Can Alabama Crack Down on Predatory Lending?

Can Alabama Crack Down on Predatory Lending?

On Thursday, President Obama is visiting Alabama, where he could be likely to discuss pay day loans, among other economic dilemmas. Considering that the early 1990s, the extremely colorful storefronts of payday loan providers, with discreet names like CASHMONEY and CA$HMONSTER, have sprung up in (mostly) low-income communities over the united states of america. Alabama has one of several greatest variety of payday loan provider shops in the united kingdom, and policymakers when you look at the state are making an effort to break straight down on such “predatory” financing techniques. Read More