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The short explanation of this alert was:

Last year the General Assembly said they would curb the predatory practices of payday lenders.  They placed a number of regulations on the industry promising that these efforts would help protect vulnerable consumers.  As you can see in an AP story out today, payday lenders are clearly circumventing the regulations placed on them.  They now seek to operate under the open-ended credit statute like their car title counterparts.  Enough is enough! Tell your legislators to fix this problem in the FIRST WEEK of the General Assembly!



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