Bill will give Alabama pay day loan borrowers more hours to cover

Bill will give Alabama pay day loan borrowers more hours to cover

Birmingham-Southern College President Emeritus Neal Berte talks to get payday reform legislation during the Alabama State home. From left, Reps. Neil Rafferty, Merika Coleman and David Faulkner. (Mike Cason/mcason@al.com)

Alabama lawmakers from both events and advocacy teams talked today to get a bill to provide pay day loan customers more hours to settle loans click this over here now, an alteration they stated would help protect economically delicate borrowers from spirals of debt.

Birmingham-Southern College President Emeritus Neal Berte joined up with the legislators and officials with Alabama Arise as well as the Alabama Appleseed Center for Law & Justice at A state home press meeting.

Alabama legislation enables payday loan providers to charge a cost as high as $17.50 per $100 lent on loans with terms because brief as 10 times. […]