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Gallery: Payday Lenders Multiply Throughout The Birmingham Metro Area

A brandname brand new state database that tracks payday financing shows that folks took straight straight down 462,209 pay time loans — totaling $146 million– from cash loan stores in Alabama in previous times 10 months.

The Alabama Banking Department began monitoring the loans in August after winning a court battle in the development concerning the database to enforce a legislation that is current restrictions site visitors to presenting at the most $500 in payday advances in past times.