Bill > HB2685

This bill changes the laws regarding consumer credit interest rates. It establishes a maximum annual percentage rate (APR) of 36% for any consumer credit loan, and prohibits the use of various "devices or subterfuges" to intentionally evade these requirements. The bill also makes changes to the regulations for certain short-term, small-dollar loans, including limiting the total interest and fees that can be charged and restricting the ability to rollover or renew such loans. Additionally, the bill updates the laws governing consumer installment lenders, requiring them to comply with the same interest rate and fee provisions as other consumer credit lenders. The bill will be submitted to Missouri voters for approval or rejection at the November 2025 election.