loans

Missouri Capitol
File Photo / KBIA

Missouri Gov. Jay Nixon has vetoed legislation on fees for certain types of loans and on voting by elected officials during public meetings.

The two bills were among four vetoed by Nixon on Tuesday.

Nixon criticized the measure that would have raised the fees that lenders could charge for payday, title and consumer installment loans. The Democratic governor said the bill would have helped payday lenders increase their profits at the expense of people struggling with debt.

Clint Zweifel
Office of Treasurer

Farmers suffering from this summer's dry, hot weather could get some help through the state treasurer's office.

Treasurer Clint Zweifel says he is offering emergency 24-hour approvals of low-interest loans through the Missouri Linked Deposit Program because of the drought conditions.

Under the program, the state deposits money at low rates in banks, which in turn can supply low-interest loans to farmers or businesses. Zweifel says it normally takes about 10 days to approve a deposit for a loan, but that can be speeded up in emergencies.

loop_oh / flickr

Missouri lawmakers are considering a measure allowing casinos to loan money to patrons, something opponents say could make things worse for those with gambling addictions.

The St. Louis Post-Dispatch reports that the House Financial Institutions Committee added the change onto a banking bill Wednesday with no debate. Committee members endorsed it by a 13-1 vote, sending the measure to the full House after the Rules Committee approves it.

Gamblers who pass a credit check would be able to borrow money and exchange it for electronic tokens and chips for wagering.