Lawmakers should increase charges for rogue pay check loan providers by 500 percent

Lawmakers should increase charges for rogue pay check loan providers by 500 percent

FRANKFORT – various Kentucky lawmakers decide payday loans shop to manage very much heavier punishment once they break consumer-protection laws.

Senate charges 169 and quarters expenses 321 would improve the range of penalties designed to the Kentucky division of finance companies from recent $1,000 to $5,000 every payday financing breach to between $5,000 and $25,000.

Say Sen. Alice Forgy Kerr, R-Lexington, explained she was disappointed previous July to read through ...

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