Payday lending reform leg passed by AL Senate

Payday lending reform legislation was passed by the full Alabama Senate Thursday by a vote of 20 to 4. This legislation, by Sen. Arthur Orr (R-Decatur), represents meaningful payday lending reform by requiring payday lenders to offer a 30-day term on all payday loans. However, our work is not done. The bill now moves to […]

Payday lending reform legislation was passed by the full Alabama Senate Thursday by a vote of 20 to 4. This legislation, by Sen. Arthur Orr (R-Decatur), represents meaningful payday lending reform by requiring payday lenders to offer a 30-day term on all payday loans.

However, our work is not done. The bill now moves to the Alabama House of Representatives where it will first be assigned to a committee.

LSCU will continue to follow this breaking story and provide you with more information as it becomes available. If you have any questions, please feel free to contact the LSCU Advocacy staff directly. Read more here.

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The League of Southeastern Credit Unions & Affiliates represents 342 credit unions in Alabama, Florida and Georgia, with a combined total of $118.63 billion in assets and more than 10.1 million members. LSCU & Affiliates provides legislative and regulatory advocacy; education and training; cooperative initiatives (including financial education outreach); public messaging; information services; and business solutions.

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