Observers of Kentucky public policy often note that trends, whether political, economic, legal or fashion, that begin on either coast take about five years to reach Kentucky. With the exception of its early embrace of the Uniform Commercial Code,1 Kentucky has historically been a follower, not a leader. Kentucky’s attempt to address the perceived problem of predatory lending has been no different. However, Kentucky did learn from the experience of other states,
and the lending industry adopted a proactive approach that resulted in legislation that seems more balanced in its attempt to preserve legitimate subprime lending and avoid undue regulatory burdens, while addressing the more serious abuses in the industry.