Churches rally in Frankfort against high-interest payday lending - WDRB 41 Louisville News

Churches rally in Frankfort against high-interest payday lending

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LOUISVILLE, Ky. (WDRB) -- Imagine taking out a loan and being charged a 400-percent interest rate. That's what some who go to payday lenders are facing.

On Tuesday, a statewide network of churches trying to address the problem rallied in Frankfort. They support a bill that would cap the interest pay day lenders can charge at 36 percent.

Supporters say the proposal, Senate Bill 32, could get a hearing as early as tomorrow.

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