Boone County's Democratic Representative Mary Still says the new cap would still leave Missouri with the highest annual percentage rate in the country.
Testifying against the bill was Rep. Mary Still, D-Columbia, who charged the bill did not restrict interest rates enough. She said that Missouri already had the highest annual percentage rate for payday loans in the US. “And this bill caps the APR at 1,564 per cent,” she added, claiming it doesn’t change anything, but only preserves the status quo.
Rep. Mary Still, D-Columbia, said Brandom's bill did not qualify as reform and the reduction in the number of rollovers is obsolete because Missouri has an average of 1.7 rollovers, nearly half the number allowed under Brandom's bill.
Rep. Mary Still, D-Columbia, presented a bill that would give a UM System student the power to vote on the Board of Curators. Her bill was defeated by bill sponsor, Rep. Mike Thomson, R-Maryville, whose solution would allow a second member from one of the districts to step in as the ninth voting member.
The passing bill's sponsor, Rep. Ellen Brandom, R-Sikeston, developed the legislation in a bipartisan committee last summer. The bill with stricter regulations, which failed to pass through the committee, was drawn up by Rep. Mary Still, D-Columbia. Still's bill was defeated with an 11-5 vote in the House Financial Institutions Committee.
Although many lawmakers acknowledged that the proposed budget cuts would be necessary, but Rep. Mary Still, D-Columbia, said she thinks there are other options
Rep. Mary Still, D-Columbia, filed an opposing bill that would give a UM System student the power to vote on the Board of Curators. Her bill would allow the student member to be selected using the same mechanisms as the current non-voting member. The bill would allow the student member to vote on all matters except the hiring and firing of teaching faculty and staff.
Columbia Democratic Representative Mary Still introduced a similar bill earlier in the session. She says the current bill does nothing to aid those receiving the loans.
Columbia Democratic Representative Mary Still introduced a similar bill earlier in the session. She says the current bill does nothing to aid those receiving the loans.
The bill's sponsor, Rep. Ellen Brandom, R-Sikeston, developed the legislation in a bipartisan committee last summer. The other bill was drawn up by Rep. Mary Still, D-Columbia, but her bill was defeated by a 11-5 vote in the House Financial Institutions Committee.
The bill's sponsor, Rep. Ellen Brandom, R-Sikeston, developed the legislation in a bipartisan committee last summer. The other bill was drawn up by Rep. Mary Still, D-Columbia, but her bill was defeated by a 11-5 vote in the House Financial Institutions Committee.