Stirring in Alabama
September 25, 2009 | Alabama, industry | Comments (0)From the story:
The Alabama Appleseed Center for Law and Justice Inc., Arise Citizens’ Policy Project, the Alabama Poverty Project and AARP Alabama joined forces Thursday to sponsor a summit on the high cost of credit for low-income residents in the state and what can be done to protect consumers.
Shay Farley, legal director for Alabama Appleseed, said part of the goal of the summit was to develop strategies to stop predatory, short-term lending in the state, particularly payday lending. Farley said the groups want to build vocal coalitions that will expose predatory lending practices and raise awareness about how harmful they are to low-income Alabamians. Advocates and legislators who have gone to bat for such issues in the Alabama Legislature told the groups they’ll need those voices if they hope to compete with the lobbyists who represent the short-term loan industry.
Another group with no answer to how consumers can get access to short-term credit.
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