Jan 12, 2022 4:54 PM

Payday lending community conversation coming Jan. 20 in Hutchinson

Posted Jan 12, 2022 4:54 PM

HUTCHINSON, Kan. — Community organizations and leaders in Hutchinson and Reno County will come together to hear stories and learn more about the impact of payday loans including the need for payday lending reform on Thursday evening, January 20.

A community conversation will give concerned citizens an opportunity to learn more and give testimony to their experiences with predatory lending in the State of Kansas.

In collaboration with Topeka JUMP and the Kansans for Payday Loan Reform Reno County organizations including Circles of Hope Reno County, Hutchinson Community Foundation, United Way of Reno County, Prairie Independent Living Resource Center, Inc., Resilience Reno County, and the Mercy & Justice Team of the Great Plains Conference of the UMC are coming together to host the event.

The event is at 6:30 p.m. at Trinity United Methodist Church at 1602 North Main.

Currently, payday lenders can charge Kansans as much as 391% in interest. Borrowers can borrow up to $500 but many of them are forced to reborrow to keep money for rent, bills, food, and gas.

Borrowers are likely to experience eviction, garnishment, job loss and loss of transportation when they can’t repay high-interest loan amounts. Kansas law allows companies to charge three times more than in neighboring Colorado.