published Tuesday, February 4th, 2014

Group rallies to limit payday loans in AL

MONTGOMERY, Ala. — About 50 people rallied on the Statehouse steps in Montgomery to show their support for legislation limiting interest rates on payday and title loans.

Members of the Alliance for Responsible Lending gathered today to support bills from Democratic Rep. Rod Scott of Fairfield and Patricia Todd of Birmingham that limit interest to 36 percent. The group backing the bills includes representatives of Alabama Appleseed, the Alabama Federation of Republican Women, the state NAACP, and AARP.

Pamela Tarver of Montgomery told the group that she took out a $700 title loan four years ago to pay her rent. The lender kept offering her more credit and she increased it to $3,800. She said she has paid more than $14,000 in interest and fees and still owes money.

about Associated Press...

The Associated Press

Other National Articles

videos »         

photos »         

e-edition »


Find a Business

400 East 11th St., Chattanooga, TN 37403
General Information (423) 756-6900
Copyright, Permissions, Terms & Conditions, Privacy Policy, Ethics policy - Copyright ©2014, Chattanooga Publishing Company, Inc. All rights reserved.
This document may not be reprinted without the express written permission of Chattanooga Publishing Company, Inc.