Lending documents indicated that a customer who borrowed $500 would only have a finance charge of $150, for a total payment of $650- but the actual finance charge was $1,425. Read more
The problem represented by predatory payday lending practices has been nationally recognized. Read more
The Alabama Supreme Court, in a most important opinion, has ruled that the state Banking Department can establish a payday loan database to enforce an existing $500 limit on how much people... Read more
Payday lenders will have to keep a unified statewide database under a bill passed during the session. Under the existing law, payday lenders may lend only $500 to a single borrower, and no b... Read more
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