The groups, Missourians for Responsible Lending and Give Missourians a Raise, announced Monday morning there wasn’t enough time to meet the Sept. 21 deadline.
State elections officials have ruled the measure’s proponents collected too few signatures to get it on the ballot.
Supporters of raising Missouri’s minimum wage and limiting payday loans submitted petitions Sunday to get the separate measures on the November ballot, beating this weekend’s deadline to turn in signatures.
Payday lenders can require that customer disputes be settled by arbitration instead of through class-action lawsuits.
Payday lenders can require customers to resolve disputes through arbitration.
Missourians for Responsible Lending and Give Missourians A Raise kicked off the two initiative petition campaigns at a joint event Saturday.
The Fair Community Credit group is a consortium of churches, bankers, lawyers and nonprofit agencies that plan to offer small loans.
Challenge to ballot measure mounted in Cole County.
Critics say the proposal would make it harder for some Missourians to get credit.