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Prop S seeks more legislation of payday advances in St. Louis; supporters say state is failing

Prop S seeks more legislation of payday advances in St. Louis; supporters say state is failing

While St. Louis voters decide among mayoral and candidates that are aldermanic the town’s main election next Tuesday, they are going to additionally respond to a concern about short-term loan providers.

Proposition S asks perhaps the town should impose a yearly $5,000 cost on short-term loan establishments. Those consist of payday and car name loan providers, along with check cashing shops.

Here is exactly exactly just what else it could do:

  • The town would utilize the license cash to employ a commissioner, who does then examine short-term loan providers.