‘Together Louisiana’ at Center of Payday Lending Debate
With the press calling it “the sleeper issue of the session,” leaders from ‘Together Louisiana,’ stormed the Capitol to testify in Committee hearings and weigh in on legislative debate over how to address payday lending in Louisiana.
‘Together Louisiana‘ leaders assert that payday lenders able to charge interest rates ten times higher than felony loan-sharking laws currently allow, making them “legal loan sharks.” They want a cap on the annual interest rate for entering into short-term loans and are working with legislators to get one, in partnership with in partnership with Habitat for Humanity, AARP, the Conference of Catholic Bishops, the Louisiana Budget Project and the Southern Baptist Convention. [Photo Credit: Michelle Milhollan, The Advocate]
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