Kentucky Launches Statewide Anti-Predatory Lending Campaign
LEXINGTON, Ky. - Kentucky has become the 25th state to launch the Don't Borrow TroubleT anti-predatory lending campaign. The statewide public education campaign kicked off Oct. 27 with the coordinated efforts of a coalition of 29 private and public organizations including principal sponsor Freddie Mac, Kentucky Housing Corp., the Attorney General's Office and the State Treasurer's Office. The Kentucky Don't Borrow Trouble campaign uses brochures, the www.dontborrowtrouble.com Web site, billboards and radio public service announcements to educate consumers who are most vulnerable to predatory lending - the elderly, minorities and low- to moderate-income consumers. By combining advertising and face-to-face consumer education and housing counseling, the campaign helps consumers avoid abusive lending practices. Don't Borrow Trouble pioneered in Boston by Mayor Thomas Menino and the Massachusetts Community and Banking Council. Freddie Mac says it has received more than 100,000 inquiries to the campaign's help line - (866) 830-7868.