New Bill Would Protect Borrowers From Toxic Loans

SB284, a bill that has just been filed in the legislature, would go a long way toward protecting Alabama borrowers from unaffordable high interest rates on small dollar loans.

This bill, co-sponsored by Senator Arthur Orr and Senator Rodger Smitherman, addresses three areas of reform: payday loans, title loans and other small loans. It creates a balanced solution; borrowers will still have access to emergency loans but with restrictions that will prevent lenders from creating a debt trap.

The bill is up for a hearing in the Senate County and Municipal Government Committee this Wednesday, March 15.

The Community Foundation supports this bill and we need your help to get it out of committee. Would you take a few minutes to contact the Birmingham committee members before the hearing and ask them to support SB284?

These committee members need to hear from you – you can call either or both of the numbers listed here:

  • Senator Pricilla Dunn: Jefferson County/Bessemer; 334-242-7793 or 205-426-3795
  • Senator Jabo Waggoner: Jefferson County; 334-242-7892 or 205-978-7405

Sample script:

Hello, my name is ________, and I am calling to voice my support of SB284, a bill that protects consumers while keeping lending options open.  We request that Sen. _______, as a member of the County and Municipal Government Committee; vote YES on SB284 so that it can be considered by the full Senate. Thank you for your time and consideration.

We are so grateful for your support! Please consider sharing this with your friends — we need all the help we can get.