Eva Creydt Schulte
Kansas City
Last spring, Gov. Jay Nixon correctly vetoed HB 329, a bill that hikes the rates on some of the most expensive loans in the country.
Unfortunately, as part of the legislature's veto override bonanza, our elected leadership took a party-line vote to undo the governor's good work. In doing so, they chose to allow high-cost lenders to charge even more fees on loans that already carry up to 300 percent annual interest.
This puts more money in the bulging pockets of payday, car title and consumer installment loan companies, all at the expense of Missouri consumers. Our communities already know too well the devastation caused by abusive, high-cost credit.
Some partisan politicians are congratulating themselves for overriding a record number of vetoes. That may count for something in Jefferson City, but for those of us who have to live with the consequences, there is nothing to be proud of in this vote.
As people of faith, we believe that the rich and poor are born equal in God's eyes. It's what we choose to do with what we've been given that matters.
In this vote, wealthy loan sharks have chosen to take even more money for themselves, and the Missouri legislature has chosen to let them.
We applaud Nixon and the legislators who stood up for the economic dignity of everyday Missourians in standing against HB 329.
