Alabama governor’s task force to study consumer finance laws

Gov. Robert Bentley’s newly appointed members of the Alabama Consumer Protection Task Force met for the first time at the state Capitol to study Alabama’s consumer finance laws. The task force will report its findings and recommendations to the governor by Jan. 30, 2017. Those recommendations may take the form of regulatory or statutory changes.

The 33-member task force is charged with evaluating all consumer credit laws affecting Alabamians. Members are working to identify areas of Alabama’s consumer credit laws for possible revision or new legislation.

“I am pleased the governor called this task force to take a comprehensive look at consumer lending in Alabama,” said State Rep. David Faulkner, chairman of the 33-member task force. “Many of our consumer lending laws were drafted decades ago, and there have been many changes since that time. By taking a comprehensive look at these laws we can make sure the laws are appropriate for our citizens.”