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Louisiana Budget Project Advocates for Payday Lender Reforms! - Wednesday, November 13, 2013
The Louisiana Budget Project (LBP) is making suggestions to tackle the payday loans issues faced by Louisiana.   In an article run by the Baton Rouge Business Report, some payday lending statistics include lost jobs and lost millions due to the industry. 

Also noted is that the average borrower in the payday loan cycle takes out an average of nine loans a year and will pay more than $270 in fees for a one-time loan of $100, and in our state payday lenders are allowed to charge up to 782% annual percentage rate on these loans. 

To read the full article and see the solutions proposed by LBP, check out Baton Rouge Business Report here.

 

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