We doubt they have the clout
March 23, 2009 | Kentucky, media coverage, regulation | Comments (0)From a story out of Kentucky:
The organization Citizens of Louisville Organized and United Together, or CLOUT, will hold a meeting Monday to look at the issues surrounding payday lending.
Specifically, the group hopes to cap lenders’ interest rates at 36 percent. Some lenders in the commonwealth charge up to 400 percent APR on payday loans.
We think they’re a day late and a dollar short. Kentucky legislation creating a data base is sailing through.
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