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Alabama law firm starts petition demanding payday loan reform

An Alabama law firm launched a petition Wednesday calling on state lawmakers to pass a bill to put more stringent regulations on payday lenders. Bond...

Alabamians took out a staggering 2 million payday loans last year

Last year, Alabamians took out more than two million payday loans, according to the state’s Banking Department. At the inaugural meeting of the Alabama Consumer Protection...

Federal payday lending reforms find support in Alabama

An ongoing effort by the federal Consumer Financial Protection Bureau to rein in the excesses of high-interest "payday loan" lenders has so far been generally...

State Senate OKs payday lending reform bill

The Alabama Senate passed a bill Wednesday to extend the timeframe for repaying loans from so-called "payday" lenders to six months. Pressure to quickly repay...

Stephen Stetson: A good first step toward payday lending reform in...

We’re calling for payday lending reform in Alabama, and we’re not alone. For years, reform of high-cost lending has been the goal of the Alliance...

Alabamians taking out $14M a week in payday loans

A new state database shows that Alabamians are borrowing millions of dollars every day from payday lending stores. The database created by the Alabama Department...

Alabama Episcopalians join fight against predatory loans

Congregants within Alabama's Episcopal churches — including members of the clergy — are joining hands with consumer advocates to stop "loan sharking," or the practice...

Time runs short as lawmakers look for budget solution

Lawmakers are running short on time and options as they seek a solution to the projected General Fund shortfall for next year. There are eight...

Committee OKs payday loan regulation

An Alabama House committee on Wednesday approved new restrictions on payday loans that short-term lenders can offer to consumers in need of quick cash. Trussville...

State Supreme Court rules against payday lenders

The Alabama Supreme Court has ruled that the state Banking Department can establish a payday loan database to enforce an existing $500 limit on...
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