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Intense payday loan battles are not likely in 2015

4 years 10 months 2 weeks ago Monday, January 05 2015 Jan 5, 2015 January 05, 2015 9:43 AM January 05, 2015 in News
Source: Associated Press
By: APNewsNow

BATON ROUGE - The high-profile payday lending fight in 2014 should not be repealed in the 2015 legislative session.

Hundreds of church leaders and community activists filled the halls during the 2014 legislative session in hopes of reining in the practices of an industry that locates mostly in low-income neighborhoods and offers short-term loans at high prices. Despite the pressure, legislators ended up passing a new law that better protects payday lenders.

Disappointed consumer advocates say they don't anticipate taking another run at the issue.

The advocacy group for low- and middle-income families was one of the chief proponents of better regulating payday loans.

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