A republican legislator from Springfield on Nov. 3, 2019, two days before Liberty voters approved their regulations, Stand Up Missouri gave a $1,000 campaign contribution to Curtis Trent. 6 months later on, from the exact same time the Springfield City Council voted to deliver its short-term financing ordinance to your ballot, Trent slipped an amendment into a cumbersome bit of economic legislation set for the vote in Jefferson City.
TrentвЂ™s amendment essentially sharpens the language regarding the statute that the installment loan providers cited inside their lawsuit against Liberty. It states that neighborhood governments cannot produce any disincentive for conventional installment loan providers and adds that вЂњany fee charged to any old-fashioned installment loan loan provider that’s not charged to all or any lenders certified or managed because of the division of finance will be a disincentive in breach for this part.вЂќ
Both your house and Senate passed TrentвЂ™s amendment minus the usual hearing or a complete analysis of its prospective effect.
вЂњI think itвЂ™s extremely obviously an attempt because of the installment loan providers in order to avoid the cost when you look at the Liberty ordinance,вЂќ Miller stated. вЂњTheyвЂ™ve seen on their own as outside municipal ordinances. Read more