There are nine issues that could potentially be up to a vote on the South Dakota election ballot in 2016. Two of those issues deal with interest rates within the state. Attorney General, Marty Jackley says the first puts a cap on the finance charge for certain money lenders…
Jackley says this does not apply to federally insured institutions, such as banks. The second measure is a constitutional amendment that also deals with loan interest rates…
Both of these measures have been passed to the Secretary of State’s office and must each gather enough signatures in order to be placed on the ballot in November of 2016.