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Jones calls for investigation into repeal of federal payday lending rule

Wednesday, U.S. Senator Doug Jones (D-Alabama) sent a letter calling for Federal Reserve Board Inspector General Mark Bialek to open an investigation into the Consumer Financial Protection Bureau’s (CFPB) repeal of the Payday, Vehicle Title, and Certain High-Cost Installment Loans Rule (Payday Rule). Senator Jones was joined in the letter by Senators Sherrod Brown (D-Ohio), … Continued
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May 14, 2020
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Alabama Republican Legislature should follow Trump’s lead on lending

Earlier this month, the Trump Administration took a giant step toward helping low-income Americans by rolling back Obama-era regulations that damaged low-income Americans. At President Donald Trump’s direction, the Consumer Financial Protection Bureau signaled a possible rollback of a previous rule that severely restricted access to capital for low and lower-middle income Americans. Under the … Continued
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March 5, 2019

Doug Jones questions CFPB acting director on pay day lending

Thursday, U.S. Senator Doug Jones questioned the Acting Director of the controversial Consumer Financial Protection Bureau Mick Mulvaney. Mulvaney is also the Director of the White House Office of Management and Budget. Jones questioned Director Mulvaney about what he considered to be Mulvaney’s efforts to roll back consumer protections against payday lenders as well as … Continued
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April 13, 2018

Activists once again come for payday lenders

By Bill Britt Alabama Political Reporter Just as the Trump administration’s acting head of the Consumer Financial Protection Bureau is working to repeal federal restrictions imposed on payday loans under the Obama administration, certain Alabama Republicans aligned with left-leaning special interests are once again pushing to regulate the industry further. In a year when Republican … Continued
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January 18, 2018
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SPLC, fundraising, and rich ironies

By Bill Britt Alabama Political Reporter The Southern Poverty Law Center, which promotes itself as a champion for the poor and oppressed, has amassed a $319 million fortune, part of it stashed away in offshore bank accounts, according to its latest posted tax return. Over the last six years, this left-leaning organization has made deep … Continued
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May 11, 2017

Payday Loan Legislation gets favorable report

By Brandon Moseley Alabama Political Reporter Wednesday, May 10, 2017, the Senate Banking and Insurance Committee approve a plan to more closely regulate the Payday Loan business. The Committee gave a favorable report to both Senate Bill 404 and House Bill 535. The two payday lender reform bills are the same plan, but SB404 was … Continued
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May 11, 2017
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The real danger for small loan borrowers

By Bill Britt Alabama Political Reporter In this Legislative Session, the fight to further restrict payday and other small lending operations began with half-truths, false claims of support, and conservative lawmakers making common cause with the State’s most liberal organization. Under the notion of protecting lower income families, single mothers, and minorities from themselves, a … Continued
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April 26, 2017
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Keep The Faith: Alabama’s Lending Reform Movement Will Win

By Stephen Stetson It’s no secret that tremendous wealth can open doors, and you don’t have to look far to see the colossal power of money in the political process. Here in Alabama, the high-cost lending industries are throwing hefty sums of money around, merging affluence with influence and hoping to keep lawmakers and regulators … Continued
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August 1, 2016

Committee Approves Pay Day Loan Bill

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
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February 24, 2016

Drummond Talks to Republican Women of Trussville

By Brandon Moseley Alabama Political Reporter Thursday, March 7, Alabama’s Republican National Committeewoman, Vicki Ann Drummond, addressed the gathered members of the Republican Women of Trussville. Drummond said that the Alabama Republican Party has three members that serve on the Republican National Committee: the Alabama Republican Party Chair (Terry Lathan), the National Committeeman (Paul Reynolds), … Continued
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May 11, 2015