Category Archives: Payday Lending

Update from the 2017 Kentucky legislative session

By Tom Troth, Legislative Agent Kentucky Baptist Convention The members of the General Assembly have left Frankfort and returned to their home districts for the 10-day veto recess. They will return at noon on March 29, 2017, for two more days to deal with any potential Gubernatorial vetoes and to pass additional legislation. There were […]

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Support Senate Bill 32 to curb the effects of payday loans

By Rick Hardison Chair, KBC Committee on Public Affairs Pastor, Great Crossing Baptist Church, Georgetown I want to invite you to join me in an effort to curb the effects of the payday loan industry. Payday loans are “short-term” loans where borrowers get, say, $500 in cash, and two weeks later they have to give […]

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Church Leaders Urged to Fight Predatory Lending

Faith leaders from across the commonwealth are being urged to meet on Nov. 18 from 1 – 2:30 p.m. at Buck Run Baptist Church, 3894 Georgetown Road, Frankfort to take a stand on payday lending. The purpose of this meeting will be to discuss the usurious nature of payday lending and how the faith community can […]

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Time Running Out to Cap Payday Lending

The following is a re-post of a recent blog from KBC Executive Director Paul Chitwood on the important issue of payday lending. With time running out in this year’s Kentucky General Assembly session, a bill to cap payday loans at 36 percent is stalled in a House committee. Call Now to Support Payday Lending Cap […]

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Payday Lending Questions Answered

The Kentucky Baptist Convention recently approved a resolution call for the General Assembly to limit the annual interest rate on “payday” type loans to 36 percent. The following answers some of the frequently asked questions about payday lending and about why a cap is needed. The material has been provided by the Center for Responsible […]

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KBC Takes Stand on Payday Lending

The Kentucky Baptist Convention, meeting in its annual session Nov. 15 at Florence Baptist Church at Mt. Zion, passed a resolution calling for the capping of the interest rate on “payday” type loans at 36 percent. The current loans, which can end up having triple digit interest rates, tend to target the poor and can […]

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