Tag Archives: usury

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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