Final CAC Public Hearing Next Week in N.KY

6 11 2010

Consumers’ Advisory Council Holding Final Public Hearing Looking at Payday Loans

Council members will hear testimony and details on state’s payday lending business, economic impact and consumer protection. The hearing is open to the public and consumers are encouraged to attend and discuss their expereince with payday lending.

The Council’s final regional hearing on payday lending is being held in Newport. Testimony and comments will be heard from consumers, representatives from the Department of Financial Institutions, consumer advocates and deferred deposit industry representatives have been invited.

Who: Consumers’ Advisory Council, Consumers, Department of Financial Institutions, representatives of the Deferred Deposit Industry, CLOUT (Citizens of Louisville Organized & United Together), Kentucky Coalition for Responsible Lending.
What:   Public forum
Where: Brighton Center’s Family Room 799 Ann Street Newport, Ky 41071
When:  Tuesday, November 9, 2010   1:00 p.m. to 3:00 p.m.

Why: Payday lending in Kentucky is a multi-million dollar industry with operations in every county. KCRL welcomes the Council’s interest in this important consumer issue. The Council agreed to conduct these hearings on behalf of consumers. The sixteen member Council’s statutory function is to aid in the development of preventive and remedial consumer protection programs.

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