Cap rates on payday loans
Recently Google announced that they would no longer accept advertising from payday lenders because of their outrageous interests rates and predatory lending practices. Hooray for Google.
Boo to the Kentucky General Assembly which for several sessions has failed to protect Kentucky citizens from the unconscionable practices of these lenders. Hooray for Lexington’s interfaith advocacy group BUILD and the legislators who support their continued effort to push for serious consumer protection for Kentuckians.
Other states and the U. S. military have capped interest rates on payday loans. It is time for all of Kentucky’s legislators to get on board.
T. Kerby Neill
Lexington
This story was originally published May 13, 2016 at 8:21 PM with the headline "Cap rates on payday loans."