Birmingham-Southern College President Emeritus Neal Berte talks to get payday reform legislation at the Alabama State House. From kept, Reps. Neil Rafferty, Merika Coleman and David Faulkner. (Mike Cason/mcason al )
Alabama lawmakers from both events and advocacy teams talked today to get a bill to offer cash advance customers additional time to repay loans, a big change they stated would help protect economically delicate borrowers from spirals of financial obligation.
Birmingham-Southern College President Emeritus Neal Berte joined up with the legislators and officials with Alabama Arise in addition to Alabama Appleseed Center for Law & Justice at a continuing state home press meeting.
Alabama legislation enables lenders that are payday charge a cost as high as $17.50 per $100 lent on loans with terms because brief as 10 days. (more…)Learn More