Nebraska Payday Lender Rate Of Interest Cap Initiative (2020)

Nebraska Payday Lender Rate Of Interest Cap Initiative (2020)

Nebraska Payday Lender Rate Of Interest Cap Initiative (2020)

The Nebraska Payday Lender rate of interest Cap Initiative can take place in the ballot in Nebraska being a state that is initiated on November 3, 2020. 1 2

The effort would restrict the interest that is annual for delayed deposit services—also referred to as payday lending—to 36%. Nebraska legislation currently enables delayed deposit solutions licensees to charge a cost of a maximum of 15percent associated with quantity loaned and restrictions total loan amounts to $500 and loan terms to 34 times. 3

Over the national country, 16 states while the District of Columbia have actually enacted a 36 per cent rate of interest cap. In 2018, a comparable measure ended up being authorized in Colorado.


  • 1 Text of measure
  • 2 Sponsors
    • 2.1 Supporters
  • 3 way to the ballot
    • 3.1 the continuing state procedure
    • 3.2 Information about this effort
  • 4 See also
  • 5 exterior links
  • 6 Footnotes

Text of measure

Object statement

The item declaration can be as follows: 1

The thing for this petition is always to amend Nebraska statutes to lessen the total amount that delayed deposit solutions licensees, also called payday loan providers, may charge to a maximum percentage that is annual of thirty-six per cent; to prohibit payday lenders from evading this rate limit; and also to deem void and uncollectable any deal produced in breach of the price limit. 4

Complete text

  • The complete text for the measure can be obtained right right right here.


Nebraskans for Responsible Lending is sponsoring the effort. 5 6


  • Sixteen Thirty Fund7
  • AARP of Nebraska 8
  • ACLU of Nebraska 8
  • Habitat for Humanity of Omaha 8
  • Nebraska Appleseed 8
  • Nebraska Civic Engagement Table 8
  • Omaha Together One Community (OTOC) 8
  • Planned Parenthood for the Heartland 8
  • Sounds for the kids in Nebraska 8
  • Women’s Fund of Omaha 8

Road to the ballot

Their state procedure

In Nebraska, the sheer number of signatures needed to qualify an initiated state statute when it comes to ballot is equivalent to 7 % of authorized voters at the time of the deadline for filing signatures. Czytaj więcej O tej wersjiNebraska Payday Lender Rate Of Interest Cap Initiative (2020)