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Looming Battle Over Missouri Payday Loan Restrictions | Politics

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The pro-initiative side has a political committee called Missourians for Responsible Lending. He raised around $ 50,000 and spent around $ 10,000, mostly on legal fees.

Molly Fleming-Pierre, policy and development organizer for a pro-initiative group called Opportunity Communities, said no one expects supporters to raise as much as groups opposing the measure.

Instead, Flemming-Pierre said, supporters will rely on a network of groups, especially faith groups, to get the initiative ahead of voters and ultimately get it approved.

“We will never win the fundraising battle, and we know it,” she said. “But that doesn’t mean we won’t win the political battle, and strong faith-based engagement is how we’ll do it.”

Katie Jansen Larsen, state organizer with Metro Congregations United, said her organization’s 35 religious congregations in the St. Louis area have pledged to collect thousands of signatures to get the measure on the ballot. The coalition will need to collect approximately 90,000 signatures from six of the state’s nine congressional districts to get on the ballot.

“We got involved in this effort because our pastors started to say, ‘This is wrong and we have to do something about it,’” she said.

Typically, a payday loan is a small, one-time payment loan that customers repay when a paycheck is received. Payday loan amounts generally vary between $ 100 and $ 500.