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    46,000 loans that are payday removed in Alabama every week, database programs

    46,000 loans that are payday removed in Alabama every week, database programs Gallery: Payday Lenders Multiply Across The Birmingham Metro Region A brand new state database that tracks payday financing implies that people took out 462,209 pay day loans — totaling $146 million– from pay day loan shops in Alabama in past times 10 months. The Alabama Banking Department started monitoring the loans in August after winning a court battle within the development associated with database to enforce a preexisting law that limits individuals to having a maximum of $500 in pay day loans at once. The figures offered a glimpse that is neutral of much Alabamians borrow from payday…