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Fifteen states ban payday loans, according to the Louisiana Budget Project, a Baton Rouge-based group that studies the impact of government policies on the poor and middle income. Nine other states stringently regulate the industry. Louisiana is one of those 28 states that have a law but the law is ineffective, said David Gray, policy analyst for the Louisiana Budget Project. “Our state protections don’t really prove effective,” Gray told the Press Club of Baton Rouge on Monday. The average Louisiana customer takes out eight additional loans to pay the one loan. The average Louisiana customer pays $270 fees for a $100 loan, he said.

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