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Nebraska becomes the state that is latest to cap cash advance rates of interest

Nebraska becomes the state that is latest to cap cash advance rates of interest

Nebraska voters overwhelmingly supported a ballot effort Tuesday that caps prices on payday advances at 36% through the entire state, even while federal legislation limiting these loans that are high-cost stalled.

В© given by CNBC Ahmed Morsi brings along their month-old son Omar, while filling their ballot at a polling place in Omaha, Neb., Tuesday.

Roughly 83% of Nebraska voters authorized Measure 428, according towards the Nebraska Secretary of State, which offers election outcomes.