Pay day loan bill dies, but problem perhaps maybe maybe not dead

Pay day loan bill dies, but problem perhaps maybe maybe not dead

MONTGOMERY, Ala. (WAFF) – this past year, 189,231 Alabamians took away 1.6 million pay day loans worth about $563.6 million from loan providers into the state. They paid about $98.4 million in costs, relating to a database held by the Alabama Department of Banking.

“It’s positively massive, ” Dev Wakeley, an insurance plan analyst when it comes to advocacy that is progressive Alabama Arise, stated recently in regards to the costs compensated by borrowers. Continue reading