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Two Missouri groups confirmed that they are abandoning a legal challenge to a ruling that they did not have sufficient signatures to get a payday lending initiative and a minimum wage measure onto the November ballot. Last month, Secretary of State Robin Carnahan told Missourians for Responsible Lending and Give Missourians a Raise that they failed to collect enough signatures to make it onto the ballot. The organizations decided that legal hurdles posed by “the payday lending industry, their allies and their lawyers” were too high to overcome before the September deadline. The payday lending measure would have capped annual interest rates and fees for the loans at 36 percent, down significantly from the average of 445 percent. Rev. James Bryan — treasurer for Missourians for Responsible Lending — said supporters of the ballot measures faced harassment, dishonest ad campaigns, fake petitions in the field, and an “interminable legal process.”
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