payday loans http://apr.org en Alabama House Approves Payday Loan Database http://apr.org/post/alabama-house-approves-payday-loan-database <p></p><p>The Alabama House of Representatives has voted to create a state database to enforce existing limits on payday loans.</p><p>Representatives approved the bill on a 93-1 vote Thursday morning. It now moves to the Alabama Senate.</p><p>Birmingham Rep. Patricia Todd called the creation of the database a good first step in the regulation of the payday loan industry.</p> Thu, 13 Mar 2014 21:38:11 +0000 The Associated Press 48380 at http://apr.org Alabama House Approves Payday Loan Database Group Rallies To Limit Payday Loans In Alabama http://apr.org/post/group-rallies-limit-payday-loans-alabama <p></p><p>About 50 people rallied on the Statehouse steps in Montgomery to show their support for legislation limiting interest rates on payday and title loans.</p><p>Members of the Alliance for Responsible Lending gathered Tuesday to support bills from Democratic Rep. Rod Scott of Fairfield and Patricia Todd of Birmingham that limit interest to 36 percent. The group backing the bills includes representatives of Alabama Appleseed, the Alabama Federation of Republican Women, the state NAACP, and AARP.</p> Tue, 04 Feb 2014 22:02:33 +0000 The Associated Press 46198 at http://apr.org Group Rallies To Limit Payday Loans In Alabama Payday Lending Moratorium Extended In Montgomery http://apr.org/post/payday-lending-moratorium-extended-montgomery <p></p><p>The Montgomery City Council has extended a moratorium on issuing new business licenses for payday lending companies.</p><p>Council voted Tuesday to extend a 90-day moratorium by six months. Councilman Richard Bollinger said the extension would give city officials time to examine how the businesses impact Montgomery.</p><p>Bollinger says city leaders are looking to foster a diverse business climate, and are unsure of why payday lending businesses are concentrated in specific areas of the city.</p> Wed, 04 Dec 2013 21:30:36 +0000 Ryan Vasquez 42698 at http://apr.org Payday Lending Moratorium Extended In Montgomery Governor Bentley Announces New Measure To Protect Borrowers From Excessive Debt http://apr.org/post/governor-bentley-announces-new-measure-protect-borrowers-excessive-debt <p></p><p>Governor Robert Bentley announced a new consumer protection measure today aimed at helping people avoid excessive amounts of debt from payday loans.</p><p>The measure will also help lenders by providing a method to ensure they are complying with state law. Under the Alabama Deferred Presentment Services Act, payday lenders are not to issue loans to customers who currently have more than 500 dollars in existing payday loan debt.</p> Wed, 18 Sep 2013 21:24:41 +0000 Ryan Vasquez 38132 at http://apr.org Governor Bentley Announces New Measure To Protect Borrowers From Excessive Debt Ala. Officials Mull Database To Track Payday Loans http://apr.org/post/ala-officials-mull-database-track-payday-loans <p></p><p>State officials say they might decide next month whether to create a database tracking payday loans.</p><p>Alabama bureau of loans supervisor Scott Corscadden says that a public comment period on the proposal to create the database closed this week with 250 people weighing in.</p><p>Corscadden says officials will review the comments and make a recommendation to, who will make a final decision. Corscadden says the review should be done by early September.</p> Tue, 27 Aug 2013 21:31:11 +0000 The Associated Press 36789 at http://apr.org Ala. Officials Mull Database To Track Payday Loans Alabama Legislators Seek Limits On Payday Loans http://apr.org/post/alabama-legislators-seek-limits-payday-loans <P>Several Alabama legislators are proposing bills to place restrictions on payday and title loans, including capping the interest rates.</P> <P>Legislators say their bills would limit annual interest rates at 36 percent. Mon, 04 Mar 2013 22:30:08 +0000 The Associated Press 26070 at http://apr.org Alabama Legislators Seek Limits On Payday Loans Alabama Legislature Mulling Payday Loan Regulation http://apr.org/post/alabama-legislature-mulling-payday-loan-regulation <P>A coalition of groups is pushing legislation to place tighter regulations on payday and title loans, including limiting interest to 36 percent annually.</P> <P>The groups, including the Southern Poverty Law Center, Arise Citizens' Policy Council and AARP, say payday loans and title loans are a paradise for predatory lenders. At a news conference Thursday, they said interest rates can hit 456 percent annually for payday loans and 300 percent for title loans. Thu, 28 Feb 2013 22:11:41 +0000 The Associated Press 25839 at http://apr.org Alabama Legislature Mulling Payday Loan Regulation Birmingham Extends Ban On New Payday Loan Stores http://apr.org/post/birmingham-extends-ban-new-payday-loan-stores New payday loan businesses won't be allowed to open in Birmingham until at least next June. The city council on Tuesday extended a ban on the businesses until June 19, 2013. Officials picked that date because it comes after the end of the Legislature's regular session. They want lawmakers to address the number of payday loan businesses in their city and across Alabama during the session. An industry lobbyist criticized the move. Max Woods of Borrow Smart America said the decision hurts customers and small businesses. Tue, 16 Oct 2012 23:55:32 +0000 The Associated Press 19354 at http://apr.org Birmingham Extends Ban On New Payday Loan Stores