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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 on what much interest payday loan providers may charge in Nebraska has gotten a major boost from the nationwide donor, enhancing the chances so it will achieve placing the problem in the 2020 ballot.

Nebraskans for Responsible Lending received $485,000 in cash and in-kind efforts month that is last the Sixteen Thirty Fund, a liberal, Washington-based team which has had aided various other states with campaigns to enhance Medicaid, raise the minimal wage and restrict payday financing.

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

Organizers would like to cap the yearly rate of interest on pay day loans at 36%, like measures which have passed away in 16 other states plus the District of Columbia.