St. Louis voters approve annual fee for short-term lenders

St. Louis voters have passed a ballot measure that will impose an annual $5,000 fee on payday loan and car-title lending establishments.

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RedDough aims to provide an alternative to payday lenders

The federal Consumer Financial Protection Bureau has proposed new rules that would restrict payday lenders and limit their clientele. Payday lenders say they are the last hope for their customers when an emergency pops up.

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