Bill would double ceiling on payday loans
Kentucky lawmakers may raise the ceiling on payday loans, which people sometimes take out in desperation to make ends meet.
A larger bill that includes a small, but controversial provision to raise the maximum deferred deposit transaction from $500 to $1,000 moved through the House Banking and Insurance Committee, although legislators attached two amendments Thursday that would remove the payday loan proposal.
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Kentucky lawmakers may raise the ceiling on payday loans, which people sometimes take out in desperation to make ends meet.
A larger bill that includes a small, but controversial provision to raise the maximum deferred deposit transaction from $500 to $1,000 moved through the House Banking and Insurance Committee, although legislators attached two amendments Thursday that would remove the payday loan proposal.
Read More...
posted by Mohd Amin | 5:56 AM
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