A ballot initiative will allow voters to decide for themselves if payday lenders should be forced to cap annual percentage rates in Nebraska after several stalled legislative attempts to regulate payday lending practices.

Ballot effort 428, promoted by Nebraskans for accountable Lending, would restrict the total amount that payday lenders may charge to A apr that is maximum of%.

Payday financing was an industry that is controversial employed by low-income individuals who require money quickly. (more…)