Will Alabama Move Ahead With a Payday Loan Task Force

Alabama remains one of the most popular states for the payday loan industry. Thousands of payday loans are made every year, and payday loan businesses generate a lot of revenues. Following the Consumer Financial Protection Bureau (CFPB)’s clampdown of the payday loan industry, the Alabama government has decided to follow suit and take its own […]

Alabama Inches Closer to Payday Loan Reform

The state of Alabama is inching ever so closer to reforming the payday loan industry. Alabama Senators voted 28-1 in favor of a bill that would give borrowers more time to repay their “cheap payday loans”. Republican State Senator Arthur Orr, the legislation’s sponsor, explained that the reform would “decrease the punitive nature” of the […]