lending

By Chip Brownlee Alabama Political Reporter Those hoping to reform the payday lending industry marked down a win Thursday when the Senate passed a hotly debated bill that would extend the repayment period for the typical payday loan, giving borrowers more time to repay their loan without racking up excessive interest. The move will effectively cut … Continued

By Brandon Moseley Alabama Political Reporter The Alabama Manufactured Housing Association issued a press release to thank US Representative Terri Sewell (D-Selma) for her introduction of legislation making obtaining financing for manufactured housing easier. The Association wrote: “Thank you, Congresswoman Terri Sewell for your leadership and support!” The Manufactured Housing Institute wrote in a statement: … Continued

By Brandon Moseley Alabama Political Reporter Tuesday, October 11, 2016, a US Court of Appeals for the District of Columbia Circuit ruled that the structure of the Consumer Financial Protection Bureau (CFPB) is unconstitutional. US Senator Richard Shelby (R-Alabama), who has been a longtime critic of the CFPB and it’s unique structure, commented on the … Continued

By Brandon Moseley Alabama Political Reporter For years, the Alabama legislature has been divided between those who want to shut down the State’s pay day loan industry, and those who believe in a free market approach with no State interference.  Senate Bill 91 is an attempt by Senator Arthur Orr (R-Decatur) to take a “middle … Continued

By Brandon Moseley Alabama Political Reporter On Thursday March 26, US President Barack H. Obama is coming to Birmingham to deliver a speech at Lawson State Community College. The President of the United States is expected to deliver a speech on the economy and call for greater government oversight on lending practices. In February, President Obama … Continued