Alabama Arise and Alabama Appleseed Center for Law and Justice teamed up to make this report in the history, monetary impacts and individual effect of high-cost lending that is payday our state.
The report shows and professional summary are below.
Click the link to read the complete report, or click on the вЂњDownloadвЂќ button near the top of this post.
- Under state law, payday loan providers may charge up to 456 % APR.
- Significantly more than 1.7 million loans that are payday applied for in Alabama in 2018. Averaged away, that is more than 32,000 pay day loans per week. Continue reading “Broke: exactly how payday loan providers crush Alabama communities”