Kentucky’s New Predatory Lending Law
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.
Contact
Before sending, please note:
Information on www.stites.com is for general use and is not legal advice. The mailing of this email is not intended to create, and receipt of it does not constitute, an attorney-client relationship. Anything that you send to anyone at our Firm will not be confidential or privileged unless we have agreed to represent you. If you send this email, you confirm that you have read and understand this notice.