Public Hearings Set to Talk about Payday Lending

6 10 2010

What’s the Real Cost of Payday Lending in Kentucky?

Public Invited to Speak, Listen & Learn at Local Hearings

Kentucky’s Consumers’ Advisory Council along with the Attorney General’s Office of Consumer Protection has scheduled three public hearings to gather facts and take public testimony on the issue of payday lending.  The hearings are free and open to the public.

KCRL expects Kentucky’s General Assembly to deal with payday lending practices again in it’s 2011 Regular Session.

Read more about the economic cost of payday lending in your county at http://bit.ly/bmwxyU

Louisville – October 13, 2010  2:00-4:00 p.m.

Location: St. Michael’s Catholic Church, 12709 Taylorsville Road ~ 40299

Lexington – October 27th  2:00-4:00 p.m.

Location: Shiloh Baptist Church, 237 East 5th Street ~ 40508

Newport – November 9   1:00 -3:00 p.m.

Location: Brighton Center, 741 Central Avenue ~ 41071

The Consumers’ Advisory Council has invited testimony from consumers, the Department of Financial Institutions, the Kentucky Coalition for Responsible Lending, and representatives from the payday loan industry.

The Kentucky Coalition for Responsible Lending is a diverse, statewide coalition of more than 60 organizations representing hundreds of thousands of Kentuckians.  KCRL supports new law capping payday loan interest rates at 36%  just as Congress passed for our nation’s military families.

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