Payday Lending

Kealey Bultena / SDPB

Three in four South Dakota voters say the state should cap payday lending interest rates. Initiated Measure 21 garnered support from 270,278 people.

Steve Hildebrand owns a coffee shop in Downtown Sioux Falls. Customers who visited him Wednesday offered him congratulations with their orders.

Hildebrand has campaigned in favor of limiting the interest rate payday lenders can charge. He says a coalition of churches, groups, and concerned citizens support the move.

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Steve Hildebrand, owner of Josiah's Coffee Shop in downtown Sioux Falls, has paired up with Steve Hickey to gather signatures for Initiated Measure 21 which caps payday lending rates in South Dakota at 36%. Hildebrand is a Democrat who worked on President Obama's campaign. Hickey is a Republican.

From Amendment U to Initiated Measure 21, Hildebrand discussed his thoughts on controlling the payday lending industry and deception in the ballot questions during his visit on Dakota Midday.

The 2016 Ballot Questions are more than ballot clutter; they are compelling social and political conversations that give voters a voice on a variety of issues.

SDPB's political reporter Lee Strubinger joins Dakota Midday to explain what your ballot will look like in November, highlighting various referred laws and Constitutional Amendments.

Each Wednesday, Dakota Midday welcomes a rotating panel of the most experienced political journalists in the state. This week Denise Ross (editor, Black Hills Knowledge Network, South Dakota Dashboard) and Jonathan Ellis (Argus Leader Media journalist/columnist) join host Lori Walsh to discuss Initiated Measure 21 and Constitutional Amendment U. Both are 2016 ballot questions.

We also discuss failures in transparency for campaign spending and the challenges of early voting.

The Statehouse Podcast for February 19th, 2016 includes coverage of legislation on education funding, transgender bathrooms, and payday loan regulations.

 

Kealey Bultena / SDPB

A poll from AARP South Dakota shows most people who are over age 50 want the state to restrict how much money payday lenders can charge. The membership organization paid for the survey from Alan Newman Research. Poll results are from the end of September and beginning of this month.

Phone calls to 904 older South Dakotans show many people agree the law should cap the interest payday lenders and car title loan companies charge customers. Sarah Jennings is the state director for AARP South Dakota.