Survey of KY Voters - 73% Support Payday Loan Cap 36%

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Uploaded by on Feb 12, 2011

AARP Kentucky joined Representative Darryl Owens' news conference releasing new voter poll. The results showed 73% of Kentucky voters support a 36% APR cap on payday loans.

Owens' House Bill 182 would set a 36% APR cap on these quick cash loans. 2010 data from the Department of Financial Institutions documented that 13.% of all transactions (at 400% APR) are being made to persons age 60-plus.

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