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Bill Would Restrict Payday Loan Businesses

Alabama Public Radio

Published March 27, 2007 at 12:17 AM CDT

By Chris Newbold, Alabama Public Radio

http://stream.publicbroadcasting.net/production/mp3/wual/local-wual-575858.mp3

Mobile, AL – A state senator has crafted legislation which would put tighter restrictions on Alabama's pay day loan industry. Alabama Public Radio's Chris Newbold reports the proposal would significantly reduce the amount of interest borrowers pay.

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