State Payday Lenders Could Soon See Changes
Posted April 26, 2005 8:16 a.m. EDT
RALEIGH, N.C. — 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.