New website displays 46,000 payday advance loans a week in Alabama
MONTGOMERY, Ala. — a brand new county data that monitors payday loaning ensures that anyone got 462,209 cash loans — totaling $146 million— from payday loans shop in Alabama in the past 10 days.
The Alabama deposit Department set out monitoring the lending products in August after being victorious in a legal fight along the development of the collection to enforce a preexisting law that limits individuals to possessing no more than $500 in cash loans at one time. (suite…)