OTOC Celebrates Payday Lending Victory in Passage of Initiative 428

After three and a half years working to cap "sky-high" fees that Nebraska payday lenders charge, Omaha Together One Community (OTOC) won a landslide victory (83% to 17%) for statewide Initiative 428, reducing maximum interest rates on payday loans from 387% to 36%.

Payday Lending Regulation Is On the Ballot in Nebraska Amid Sky-High Interest RatesYahoo Finance

Nebraskans Vote to Cap Interest Rates on Payday LoansNPR Marketplace Morning Report