Mindless editorializing
January 17, 2010 | Kentucky, industry, regulation | Comments (0)A Kentucky paper added this to it legislative wish list for 2010:
Cap payday loans at 36 percent interest. The laws against usury date back to ancient times, but somehow the short-term lending industry got the legislature to roll back common decency a few years ago. Gov. Steve Beshear has promised to support an interest cap. So should the House and Senate.
Newspapers are always demanding truth and transparency from business. How about truth from a newspaper? A 36% rate cap is a ban.
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