Financial solutions PerspectivesPayday Lending > Consumer Lending business Targeted by the Alabama

Financial solutions PerspectivesPayday Lending > Consumer Lending business Targeted by the Alabama

Regulatory, conformity, and litigation developments when you look at the services that are financial

Home > Payday Lending > Consumer Lending business Targeted by the Alabama Legislature

Final thirty days, a small grouping of 45 people in Alabama’s House of Representatives introduced a proposed amendment to your Alabama Constitution that will cap the attention price a loan provider may charge a person on a “consumer loan, credit line, or other monetary item.” The proposed amendment, presently referred to as home Bill 321, is a direct assault on the Alabama Deferred Presentment Services Act additionally the Small Loan Act, and it also contains a proposed interest price limit of 36 per cent each year for covered loans. Continue reading “Financial solutions PerspectivesPayday Lending > Consumer Lending business Targeted by the Alabama”

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