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Kansas lawmakers ask to keep learning lending that is payday after hearing input on high-rate loans

Claudette Humphrey, whom operates a course for Catholic Charities of Northern Kansas that will help people move out from underneath high-interest pay day loans, testifies before a unique joint committee regarding the Kansas Legislature in support of a bill that could place tighter restrictions in the rates of interest and charges those lenders may charge.

Topeka ? The payday lending industry scored a short-term victory in Kansas Wednesday when a unique legislative committee didn’t make an up or down suggestion about a bill that could place tight limitations in the rates of interest and fees those loan providers may charge.

Rather, the panel stated its users like to hear more details through the workplace associated with the State Bank Commissioner in regards to the effect that brand brand brand new federal laws that have been simply established the other day will have in Kansas. Continue reading

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