I should have suspected that there was something rather nefarious about that ad campaign. For it has been in heavy rotation during shows like [Judge Joe Brown] and [Judge Judy] in the afternoons in our area.
What was that? How would I know about such a thing? Well, um, my wife and her mother really enjoy those shows, and they have mentioned seeing that commercial a lot.
So, with my curiosity piqued, I endeavored to persevere until I got to the bottom of the mystery. For as you just saw, the commercial does not give any indication of just what it is really about.
Lo and behold, the people behind it are those who run such places as payday and title loan businesses. For [Missourians for Responsible Lending] is seeking to add the following proposal to the November ballot.
Shall Missouri law be amended to limit the annual rate of interest, fees, and finance charges for payday, title, installment, and consumer credit loans and prohibit such lenders from using other transactions to avoid the rate limit?
Nope, the members of [Missourians for Equal Credit Opportunity] do not want that happening. For being able to legally charge over 400% interest is really good for their business.
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