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Wednesday, May 09, 2007

Payday loans victimize the neediest

The Center for Responsible Lending, a Washington, D.C.-based non-partisan research and policy organization recently announced that "predatory payday lending now costs American families $4.2 billion a year in excessive fees ... eleven states ban payday lending and as a result they saved their citizens a total of $1.4 billion."

I call on our representatives here in Kentucky to join those eleven other states in banning these businesses that harm our citizens and our economy.

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