Payday Lending in Missouri: Leading the Nation in Predatory Lending

Abstract

Payday lending is commonly considered to be predatory lending. Practices typically involve high interest rates, excessive fees, deceptive and aggressive marketing, and a general lack of concern for a borrower's ability to repay. Missouri has a high concentration of payday lending businesses throughout the state, in both rural and urban areas, and the Missouri legislature and government leaders must remain ever vigilant in regulating payday lenders in this state.