Posted February 9th, 2010 6:00 am

Kentucky payday lenders prey on those most vulnerable, and then permanently bury them under usurious interest rates. When mafia mobsters ran such rackets in the 20s and 30s, their reach was limited by the illegality and need to not be blatant about their criminal activity. But since Kentucky’s payday lenders are legal, they can afford the best talent money can buy to make up excuses for their conduct. Now that talent is flexing its muscles, and preparing to roll over the very churches that the Republicans will turn to for support at election time. From the Courier-Journal:

Supporters of a bill to limit the cost of payday loans sought to drum up support Monday, saying they will have to work hard against a well-financed industry campaign.
“We’re short on money but we’ve got an awful lot of votes,’’ said Rep. Darryl Owens, D-Louisville, the sponsor of House Bill 381. The measure would limit annual interest on the short-term, cash loans to 36 percent.
But it appears the coalition of religious leaders and advocates for the poor supporting HB 381 will face formidable opposition.
The payday industry spent more than $165,000 on nine lobbyists last year to fight a similar bill and already has hired eight lobbyists for this year, according to reports on file with the state Legislative Ethics Commission.
Marc Wilson, a lobbyist for the national trade group, the Community Financial Services Association, made $45,000 last year and will be paid the same amount this year, said Scott Jennings, a spokesman for the association.

If the name Scott Jennings sounds familiar, it should.

Two years ago, Jennings resigned from a different kind of con game.

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