Local African American clergy claim to be target of loan lenders

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by Brittany Noble / News 4

KMOV.com

Posted on August 5, 2013 at 5:43 PM

Updated Monday, Aug 5 at 10:17 PM

 (KMOV) – A local group of African American preachers believe they are the target of payday loan companies to help thier bottom lines. 

Some Missourians are trying to cap the interest pay day lenders can charge to 36-percent.

A group called "Stand Up Missouri" is wanting St. Louis preachers to promote payday loans to their church in an effort to target African Americans. 

Consumer Federation of American said payday lenders are eight times more likely to be in a mostly dominate African American neighborhood.

News 4's Brittany Noble spoke to local clergy members who call this a predatory practice. 

Click the video player to see the full report. 

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