Alabama Deferred Presentment Services Ac

Governor-Payday Loans
4:24 pm
Wed September 18, 2013

Governor Bentley Announces New Measure To Protect Borrowers From Excessive Debt

Governor Robert Bentley announced a new consumer protection measure aimed at helping people avoid excessive amounts of debt from payday loans.
Credit governor.alabama.gov

Governor Robert Bentley announced a new consumer protection measure today aimed at helping people avoid excessive amounts of debt from payday loans.

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.

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