|Missouri governor vetoes payday loan legislation|
|News - St Augustine Area & St Johns County|
JEFFERSON CITY, Mo. — Gov. Jay Nixon vetoed legislation re-writing Missouri’s payday loan laws Thursday, describing the newly proposed limits as an industry-backed “sham” that fell short of “true reform.”
The Democratic governor said it was better to leave the law as it is, with the hopes of pushing for more stringent regulations in future years, than to enact a modest revision passed by the Republican-led Legislature.
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