LINCOLN — A petition drive to cap payday loan rates at 36% annual interest in Nebraska kicked off Tuesday in Lincoln.

Leaders with Nebraskans for Responsible Lending said they are trying to put a measure before voters in the November 2020 general election. They plan to begin gathering signatures soon.

“It’s time that something was done,” said former State Sen. Al Davis of Hyannis. “The Legislature has had ample opportunity to fix this problem and they haven’t done so, so now we’re going to go out and secure signatures and get this in place.”

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