Kentucky currently has 743 payday loan stores. Kentucky Gov. Steve Beshear wants legislators to cap the rates at 36%. Kentucky current loan terms are:Maximum Loan Amount: $500Loan Term: 14-60 daysMaximum Finance Rate and Fees: $15 per $100Finance Charge for 14-day $100 loan: $17.65APR for 14-day $100 loan: 459%Maximum Number of Outstanding Loans at One Time: […]
Category Archives: Kentucky
Kentucky give payday lenders 10-year moratorium
Not every state is giving payday lenders a hard time. Kentucky granted a moratorium to payday lenders on house bill 444. Every state has its own unique way of dealing with issues. The legislators in Kentucky probably feel that people choose to use the product. They do not need eliminate it. The more I think […]
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