South Dakotans for Responsible Lending

South Dakotans for Responsible Lending We're working to end predatory lending in South Dakota. To join us, vote NO on Amendment U and YES o That number was carefully chosen. It is time to cap the rate!

South Dakotans for Responsible Lending is a bi-partisan coalition that seeks to cap payday, car title, and installment loans at an annual interest rate of 36%. In 2006 Congress determined that 36% was the maximum interest rate a person could dig out from on his or her own. As a result, Congress capped payday and title loans to active duty military personnel at 36%. The fear was that higher rates u

ndermined our nation’s military readiness. A similar cap is already in place in 15 states and the District of Colombia. Other states, such as Vermont and Georgia, simply prohibit payday lending entirely. If these high interest rate loans are bad for our soldiers, and are prohibited or capped in many other locations, then they are also bad for vulnerable South Dakota citizens. We've succeeded in getting Initiated Measure 21 on the ballot this fall. To help end predatory lending in South Dakota, please vote NO on Amendment U and YES on Initiated Measure 21 on Tuesday, November 8, 2016. We won with 76% voting in favor of capping the rate on payday loans!

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East Sioux Falls, SD
57104

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