Pay day loan bill dies, but problem maybe not dead
MONTGOMERY, Ala. (WAFF) – just last year, 189,231 Alabamians took away 1.6 million payday advances worth about $563.6 million from loan providers when you look at the state. They paid about $98.4 million in charges, relating to a database held by online title loans idaho the Alabama Department of Banking.
“It’s definitely massive, ” Dev Wakeley, an insurance plan analyst for the progressive advocacy team Alabama Arise, stated recently concerning the charges compensated by borrowers.
