Kentucky bill snagged?
February 9, 2010 | Kentucky, industry | Comments (0)From the story:
A measure that would cap interest rates on all short-term loans at 36 percent might never get a hearing in the Democratic-controlled House, despite the backing of Democratic Gov. Steve Beshear.
Banking and Insurance Committee Chairman Jeff Greer said he has not decided whether he will hear House Bill 381, a measure that has 19 co-sponsors and the support of more than 50 social service groups.
Greer, D-Brandenburg, said Monday that he would first like to hear more about a database that was approved in 2009 to track all payday loans in Kentucky. The database would be used to determine whether people were receiving more loans than the law allows.
It’s nice to wake up to some good news.
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