Title loans http://apr.org en Montgomery Bans New Quick-Loan Businesses http://apr.org/post/montgomery-bans-new-quick-loan-businesses <p>The city of Montgomery is enacting a temporary ban on new business licenses for payday lending companies.</p><p></p><p></p><p>The 90-day moratorium approved by the City Council on Tuesday also includes businesses that let consumers pawn their car titles.</p><p>Alabama cities including Birmingham and Tuscaloosa have enacted similar moratoriums.</p><p>Short-term lenders have been controversial among Alabama lawmakers for several years. The companies include title loans, payday loans and check-cashing businesses.</p> Wed, 04 Sep 2013 21:13:32 +0000 The Associated Press 37262 at http://apr.org Montgomery Bans New Quick-Loan Businesses Ala. House Panel Oks Bill Regulating Title Loans http://apr.org/post/ala-house-panel-oks-bill-regulating-title-loans <P>An Alabama House Committee has approved a bill that would regulate the issuing of title loans, while allowing most of the title loan businesses to continue operating.</P> <P>The House Financial Services Committee approved the bill known as the Alabama Title Loan Act Wednesday on a voice vote with only one vote against the proposed legislation. The bill now goes to the full House for debate.</P> <P>Opponents claimed the bill does not address what they say are the exorbitant interest rates charged by the industry. Wed, 13 Mar 2013 21:15:44 +0000 The Associated Press 26643 at http://apr.org Ala. House Panel Oks Bill Regulating Title Loans