Pay day loan database bill advances in Senate; title loan reform may be dead

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After a very bumpy trip through the legislative process, pay day loan regulation may be on its way up. Title loan reform, meanwhile, seems on its way down. The Senate Banking and Insurance Committee Tuesday approved a bill sponsored by Rep. Patricia Todd, D-Birmingham, that would establish a central database aimed at enforcing a state [...]

Pay day loan database approved by House committee

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The House Financial Services Committee Wednesday approved a compromise pay day regulation bill that would establish a central database to track loans, but drop an earlier provision that would have capped them at 36 percent. The new bill, sponsored by Rep. Patricia Todd, D-Birmingham and brokered in part by House Speaker Mike Hubbard, R-Auburn, represents [...]

Pay day reform bill may return in reduced form

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Seemingly dead just a few weeks ago, lawmakers plan to revive a proposal to regulate pay day lending in the state, albeit in a more modest form. The House Financial Services Committee Wednesday is scheduled to bring back legislation sponsored by Rep. Patricia Todd, D-Birmingham, which appeared defeated after being referred to a subcommittee on [...]

Under the Dome: Alvin Holmes calls Clarence Thomas “Uncle Tom”

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It’s no surprise that Rep. Alvin Holmes, D-Montgomery, burst out on the House floor last week with comments that were, well, seemingly random. Rep. John Merrill, R-Tuscaloosa, was discussing his bill that would essentially change the state test structure for professional engineers and land surveyors. The bill gave the State Board of Licensure for Professional [...]

Payday loan regulations may be dead for session; title loan bill still alive

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A bill capping interest rates that payday lenders can charge was sent to a House subcommittee Wednesday, severely weakening its chances of passage. But a companion bill to regulate title loans may still have a heartbeat. The bills, sponsored by Reps. Rod Scott, D-Fairfield and Patricia Todd, D-Birmingham, would cap the interest charged by both [...]