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Archive for the ‘apply for payday loan over the phone’ category

By John Cheves | Lexington Herald-Leader

FRANKFORT – A few Kentucky lawmakers want cash advance stores to face heavier that is much whenever they violate consumer-protection legislation.

Senate Bill 169 and House Bill 321 would increase the variety of fines open to the Kentucky Department of finance institutions through the present $1,000 to $5,000 for every lending that is payday to between $5,000 and $25,000.

State Sen. Alice Forgy Kerr, R-Lexington, stated she had been upset last July to see within the Herald-Leader that Kentucky regulators allowed the five biggest loan that is payday to build up a huge selection of violations and pay scarcely a lot more than the $1,000 minimum fine each and every time, and regulators never revoked a shop permit. Read more »