Payday loan protest will be June 11 at the Gem Theater

Mayor Sly James of Kansas City is helping launch an effort to rein in predatory payday lending, starting with an event June 11 at the Gem Theater, 1615 E. 18th St.

The program, from 10 a.m. to noon, will include a discussion on how payday lenders drain money from consumers and the Kansas City economy. There also will be a screening of “Spent: Looking for Change,” an American Express documentary about the effect of payday loans on individuals and families.

Speakers will discuss proposed payday lending rules drafted by the federal Consumer Financial Protection Bureau.

The program’s host is Communities Creating Opportunities. The organization says payday lending drains $26 million annually from the Kansas City economy, partly by charging high interest rates on small-dollar loans.

A spokesman for the Community Financial Services Association of America, a trade group for the payday lending industry, could not be reached for comment.

The event is sponsored by DollarWise-Mayors for Financial Literacy, a financial education initiative of the United States Conference of Mayors.

This story was originally published June 2, 2015 at 3:02 PM with the headline "Payday loan protest will be June 11 at the Gem Theater."