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Payday loan companies oppose change to 30-day financial loans

Payday loan companies oppose change to 30-day financial loans Sen. Arthur Orr, R-Decatur, takes questions through the Senate financial and Insurance panel during a community hearing about his costs to make payday loans 30-day financial loans, efficiently reducing the charge many consumers shell out. Pay day loan providers were combating a statement that will put the terms of financial loans at 1 month, in place of 10 to 31 days enabled under Alabama law today.

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