By AP
Frankfort, KY – A group that wants payday loan interest in Kentucky to be capped at 36% gathered at the state Capitol to urge a fair hearing for a bill locked in a House committee. The Kentucky Coalition for Responsible Lending also released a report Tuesday that it says shows the economic damage caused across the state by payday lending. Coalition chairwoman Amy Shir says the report shows the real costs of payday lending. One example in the report shows that, in Louisville, 132 lenders collected nearly $27 million in fees in 2008.