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Lawmakers desire to improve fines for rogue payday lenders by 500 per cent

Lawmakers desire to improve fines for rogue payday lenders by 500 per cent

By John Cheves | Lexington Herald-Leader

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

Senate Bill 169 and home Bill 321 would increase the variety of fines open to the Kentucky Department of banking institutions through the present $1,000 to $5,000 for every single payday financing breach to between $5,000 and $25,000.

State Sen.