Final thirty days, a group of 45 people of Alabamaâ€™s House of Representatives introduced a proposed amendment to your Alabama Constitution that will cap the attention price a loan provider may charge a person on a â€œconsumer loan, personal credit line, or any other economic item.â€ The proposed amendment, presently called home Bill 321, is just an attack that is direct the Alabama Deferred Presentment Services Act plus the Small Loan Act, also it contains a proposed interest price limit of 36 % per 12 months for covered loans. Continue reading Customer Lending Business Targeted by the Alabama Legislature
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