More noise in Kentucky
July 27, 2009 | Kentucky, industry | Comments (0)From the story:
The Kentucky Coalition for Responsible Lending, representing 45 interest groups, is asking the state General Assembly to enact legislation that would cap interest rates on so-called payday loans at 36 percent. Kip Bomar of Community Action Kentucky says families need protection from the high price of predatory small loans that are so prevalent in Kentucky.
Kentucky legislators will have to be educated on the fact that 36% equals a ban.
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