A coalition has formed to support a cap on payday lending in South Dakota.
Petitions are being circulated that would let voters decide on an interest rate cap of thirty six percent for payday, car title and installment loans.
The group “South Dakotans for Responsible Lending” has released a poll of residents fifty plus for their views on the issue. Erik Nelson is with AARP-South Dakota, which is part of the coalition…………

Nelson says senior citizens are especially vulnerable to payday loans………

Nelson says a number of groups have banded together to support the petition drive…………

Petitions have to be turned into the Secretary of States Office by November 9th.