Public hearing to be on payday lending

Posted: 4:57pm on Oct 25, 2010; Modified: 4:59pm on Oct 25, 2010

The Kentucky Consumers' Advisory Council will have a public hearing on payday lending, also known as deferred-deposit lending, in Lexington on Wednesday.

Officials from the Department of Financial Institutions, which regulates payday lenders, will release information gleaned from the new state database of loans.

The hearing, which will include public testimony on the impact on consumers, will be from 2 to 4 p.m. at Shiloh Baptist Church, 237 East Fifth Street, in Lexington. Another hearing is scheduled for Nov. 9 in Newport.

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