Argus Leader Loses Appeal to Get Short-Term Lending Records
SIOUX FALLS, S.D. (AP) — The state Office of Hearing Examiners has denied a newspaper's request to obtain records offering details about short-term lending companies operating in South Dakota.
The Argus Leader reports Hearing Examiner Catherine Duenwald says applications submitted to the state by payday and car title lenders aren't public records.
The newspaper had appealed the Division of Banking's decision to deny an open records request.
Journalists sought the applications, which include disclosure of company officials and information about people who own at least 10 percent of a business.
The decision could be appealed.
Voters may decide between two competing interest rate ballot measures in November. One would cap interest rates at 36 percent, while an industry-backed constitutional amendment would limit rates to 18 percent unless the borrower agreed to a higher one.
Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.