New Payday Loan Bill
Payday lending customers may get a little longer to repay their payday loan. A new bill sponsored by Senator Arthur Orr would give borrowers 30 days to repay a loan instead of as little as 10 days. Senator Orr says the change would give people a better opportunity to pay off the loan.
The Senate approved the bill in a 20 to 4 vote. The bill now moves to the Alabama House of Representatives.