Local News

State Payday Lenders Could Soon See Changes

Posted April 26, 2005 8:16 a.m. EDT

— It could be a big day for payday lenders and its opponents.

The Senate Commerce committee will consider a measure that would re-establish state regulation over payday loans after a nearly four-year absence.

At the same time, the North Carolina Commissioner of Banks will hold a hearing on whether Advance America, the state's largest payday lender, is breaking the law by offering high-interest loans.