Protection from predatory loan providers ought to be section of Alabama’s response that is COVID-19
Alabama’s rates of interest for pay day loans and name loans are 456 % and 300 %, correspondingly. (Picture: megaflopp, Getty Images/iStockphoto)
While COVID-19 forces Alabamians to manage health issues, task losings and disruption that is drastic of life, predatory loan providers stand willing to make the most of their misfortune. Our state policymakers should work to guard borrowers before these harmful loans result in the pandemic’s devastation that is financial even even worse....