A Nevada judge on Friday struck down an initial effort seeking to end high-interest lending in the state but approved a narrower version
A nonprofit filed two petitions in January to place a 36 percent cap on the interest rates for certain loans. The first also called for increasing how much money from a person’s bank account and weekly wages is protected from a seizure for an unpaid debt. The revised version scrapped that language.
Carson City District Court Judge William Maddox ruled the first petition violated a requirement under state law that ballot initiatives “embrace one subject” — which the nonprofit plans to appeal — but said the narrower petition passed legal muster.
If the petition receives 102,362 signatures by Nov. 20, it would go up for a vote in the Legislature next year. If it does not pass, voters would decide its fate in the 2026 general election.