Modifies interest rates of consumer installment loans

HB 692 caps total interest and fees for short-term consumer loans at 65% of the initial loan amount, directly affecting borrowers taking out payday-style loans and the lenders who offer them. The bill sets a minimum 14-day and maximum 31-day loan term, prohibits rolling over loans (requiring full repayment before a new loan), and limits total outstanding loans per borrower to $500. It also bans lenders from charging excessive fees, including for cashing checks, and prevents "workarounds" like sales leases to bypass these rules. The law applies to unsecured loans and transactions deemed disguised loans by Missouri's Division of Finance.