#john tsitrian

A look at Initiated Measure 21, 36% payday lender cap

I have completed my posts about the constitutional amendments and referred laws as I look at the ballot questions in the 2016 South Dakota election. Now it is time to look at the initiated measure, of which there are three. First up is Initiated Measure 21 (IM 21). IM 21 would set a 36% interest rate cape on payday loans. This post will look at some of the basics of IM 21. There may be more posts…