Birmingham-Southern College President Emeritus Neal Berte talks to get payday reform legislation during the Alabama State home. From left, Reps. Neil Rafferty, Merika Coleman and David Faulkner. (Mike Casonfirstname.lastname@example.org)
Alabama lawmakers from both parties and advocacy groups talked today meant for a bill to offer loan that is payday more hours 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 state House press meeting.
Alabama legislation permits payday loan providers to charge a cost as much as $17.50 per $100 lent on loans with terms because short as 10 times.