Alabama’s Payday Loan Reform Bill Falls

By Shawn Martin

Rep. Patricia Todd
Rep. Patricia Todd

The House committee voted on Tuesday to send a bill to a sub committee that would have led to both payday loan reform and title loan reform in Alabama.

This move pretty much shoots any chances of the bill getting any attention in the Senate.

The bill, sponsored by Rep. Patricia Todd, D-Birmingham, would have limited the amount of interest these companies would be able to charge for their short term loans.

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