Montana's political practices commissioner says there were several problems with the campaign behind a 2010 initiative that restricted payday loans.

Voters approved capping the interest rate on payday loans at 36 percent, which led to the closure of many of those businesses.

Commissioner Jim Murry says in a Tuesday report that he found several reasons to believe the groups behind the initiative broke disclosure laws.

He says Cap the Rate failed to disclose two of its original $5,000 contributions from a labor union and another group, and twice filed disclosure reports late. Murry's findings say other groups failed to properly disclose their involvement, and also filed late.

State law only allows for penalties to be issued in such cases. The commissioner's office says there is enough evidence to consider penalties.