Payday Lenders Dole Out Cash to AL Politicians

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President Obama urged reforms in the payday and title loan lending industries Thursday during a speech in Birmingham, Ala. Twenty-two states have already regulated the industries. But in Alabama the industry has protected itself from state-level reforms by dumping loads of cash into the campaign accounts of Alabama lawmakers, reports AL.com. And those campaign donations have been targeted strategically to key leaders in the legislature and to members of important committees where reform proposals have died in recent years.

In the Alabama Senate, banking committee members collectively received more than $116,000 in the . . .

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