Payday Loan Proponents Argue Their Case

Posted On: September 6, 2010 at 11:53 a.m.

Filed Under: ballot interest rates payday loan

In an effort to block opponents’ attacks and attempts to put a new law restricting payday loans on the upcoming November ballot, those in favor of payday loans are putting up a fight. They argue now that the language written on the ballot is different than what citizens saw when they signed a petition regarding the matter months ago. The latest on the story as it unfolds: “Opponents of a Montana initiative to cap the interest rates on payday loans are trying once more to keep the proposal off the November ballot. [[ads]] Earlier this week, the state Supreme Court said it wouldn’t block the initiative, though the court slightly changed the ballot language to make it easier to understand. Now opponents are asking a district judge to stop the secretary of state from certifying the initiative because of that language change. They say the change voided the petitions signed by Montana voters because they saw different versions of the initiative than voters would see. Secretary of State Linda McCulloch’s spokesman says her office has already sent notices to election officials in the 56 counties certifying the candidates and measures for the election ballot” (http://www.businessweek.com/ap/financialnews/D9HN9LTO0.htm).

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