LINCOLN- In an unanimous vote, the Nebraska Supreme Court rejected a challenge to a ballot initiative concerning payday loans. The initiative would cap payday loans at interest rates of 36%. Advocates for the initiative say rates are way too high and prey on low-income people. Brian Chaney challenged the ruling by saying people who signed the petition had not read the entire statute, saying that is against Nebraska Law. He also claimed fraud on the part of circulators by producing 188 affidavits from voters who signed the petition saying they would have rejected if they had read the whole statute.

The Supreme Court ruled that Nebraska law does not require people to read the statute in full and there was no evidence of fraud by circulators.

The payday lending initiative has already appeared on the ballots, however the Court could have prevented the votes from being counted.

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