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Nebraska payday financing ballot campaign gets $485,000 boost

Nebraska payday financing ballot campaign gets $485,000 boost

LINCOLN, Neb. (AP) — A ballot campaign wanting to tighten up the limit as to how interest that is much loan providers may charge in Nebraska has gotten a major boost from a nationwide donor, increasing the chances so it will flourish in putting the problem regarding the 2020 ballot.

Nebraskans for Responsible Lending received $485,000 in money and in-kind efforts final thirty days from the Sixteen Thirty Fund, a liberal, Washington-based team which has aided various other states with campaigns to grow Medicaid, raise the minimal wage and restrict payday financing.

“A great deal regarding the very early conversations we’ve had about fundraising have already been positive,” said Aubrey Mancuso, an organizer for Nebraskans for accountable Lending. “A great deal of men and women understand this issue, and we think we’re hopeful that we’ll have all of the resources we must be successful.”

Organizers would like to cap the interest that is annual on pay day loans at 36%, like measures which have passed away in 16 other states therefore the District of Columbia. Colorado voters approved its limit year that is last with almost all of the pro-campaign donations from the Sixteen Thirty Fund. Continue reading