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 nearly 300 credit unions throughout Alabama, Florida, and Georgia. It has a combined total of almost $200 billion in assets and 12.4 million members. LSCU provides advocacy, compliance services, education and training, cooperative initiatives, and communications.

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