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Lawmakers desire to enhance fines for rogue pay day loan providers by 500 %

Lawmakers want to enhance fines for rogue pay day loan providers by 500 %

FRANKFORT – A few Kentucky lawmakers want spend loan shops to face heavier that is much whenever they violate consumer-protection law day.

Senate Bill 169 and home Bill 321 would boost the selection of fines available to the Kentucky Department of finance organizations through the present $1,000 to $5,000 for almost any lending that is payday to between $5,000 and $25,000. Continue reading