Initiated Measure 21
Initiated measure 21 is one of two ballot questions dealing with the payday loan industry. The Initiated measure will set a maximum finance charge for certain licensed money lenders. If passed the measure will prohibit certain state-licensed money lenders from making a loan that charges an annual percentage rate greater than 36%. SDPB visited with the organization supporting the measure, South Dakotans for Responsible Lending. SDPB made several attempts for an on-camera interview from the organization opposing the measure, Give us Credit South Dakota. No one responded to our requests.
South Dakota Focus Initiated Measure 21 Will set a maximum finance charge for certain licensed money lenders.