Brennan: Voters “Duped” On Initiated Measure 21
SIOUX FALLS – Payday loan millionaire Chuck Brennan says he feels voters were” duped” when it came to Initiated Measure 21.
South Dakota voters passed the measure to cap interest rates on payday loans with a resounding 75-percent approval. Since then, Brennan has closed up his businesses including Dollar Loan center, Badlands Speedway and the Brennan Rock & Roll Academy.
Badland Pawn closed its doors on Sunday however, the gun store and KBad Radio Station will remain in business for now. Brennan says both of those will eventually be sold as well. KBad has already been moved next door to the former Janklow Law Office building.
Brennan says Initiated Measure 21 ultimately led to the business closing but went on to say that he doesn’t blame the voters because they were “sold a false bill of good.”