Phony study released in Kentucky
February 24, 2010 | Kentucky, industry | Comments (0)A local group puts together meaningless numbers and then makes stupid conclusions. They call it a “study.” From the story:
“More than four million loans were made in 2008 to Kentuckians who paid more than 400 percent in interest on those loans. So, we see a huge problem with payday lending in the state of Kentucky.”
How many Kentuckians were able to make a car payment or pay a utility because they had access to short-term credit? Oh, they didn’t study that.
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