payday loan

Alabama Senate Passes “30 Days to Pay” Reforms

The Alabama Senate today passed Senate Bill 138 with bipartisan support on a vote of 20-4. The legislation gives borrowers 30 days to pay any payday loan, which helps borrowers better manage their finances by allowing them to pay off debts alongside other monthly bills.  Under current law, payday lenders can set the terms of their loans from 10 to 31 days,…