Payday Lenders Archives - Louisiana Budget Project

May 1, 2018

Senate Bill Expands Predatory Payday Lending

BATON ROUGE — Legislation backed by the national payday lending industry that would expand their operations in the state narrowly passed the Louisiana Senate by a vote of 20-17 on Tuesday. Predatory payday already lending drains more than $240 million each year from Louisiana workers by saddling vulnerable borrowers with high-interest loans that they often cannot afford.… Read more...

April 9, 2018

Analysis: SB 365 expands the predatory debt trap

Predatory payday lending drains more than $240 million each year from Louisiana workers by saddling vulnerable borrowers with high-interest loans that they often cannot afford. But instead of working to address this problem, the Legislature is considering a bill that would make it worse.… Read more...

March 23, 2018

Policy Brief: Installment Loan Act Would Expand Predatory Lending in Louisiana

The Louisiana Installment Loan Act (House Bill 501/Senate Bill 365) would expand the payday loan industry in Louisiana by allowing payday lenders and car title lenders to offer longer-term “installment loans.” Installment loans are similar to high-interest payday loans, but allow borrowers to take out larger loans for longer periods of time.… Read more...

June 4, 2014

LBP reviews the 2014 Legislature

The Louisiana Legislature wrapped up its 2014 regular session without tackling many of the state’s critical challenges, according to a new report by the Louisiana Budget Project. While legislators largely avoided the destructive cuts that have become the norm in recent years, they failed to address the state’s structural budget problems or take advantage of opportunities to help low-income families.