Nebraska Supreme Court rejects challenge to lending measure

Nebraska News

Courtesy Nebraska Unicameral Information Office

LINCOLN, Neb. (AP) — The Nebraska Supreme Court has rejected a challenge to a payday lending measure on the November ballot.

Supporters of the measure gathered enough signatures to place the proposal on the Nov. 3 ballot.

However, a lawsuit argued that when circulators gathered petition signatures, they didn’t read the initiative’s full object statement to signers.

A Lancaster County District Court judge dismissed the challenge in September. T

he Nebraska Supreme Court affirmed the district court decision. If approved by voters, the measure would cap the annual interest rate on payday loans at 36%.

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