I don't know how many caught the Frontline program on PBS (as I said the pod cast can be reviewed at PBS.ORG) BUT: one thing that is overly abundant in this area are the Title/Payday Loan companies. Most of these are owned by out of state corporations. Did you know that the APR on these places are over 400%? Not that they make loans for more than a short amount of time: they are WORSE than credit card rip offs and many of them are trying to sucker the poor folks who use them into registering for a credit card through this company. Can you imagine the interest rate for THESE cards? It seems like the TD and the local officials are always concerned about the image of this area; especially when trying to get dignitaries or CEO's from prospective companies are visiting. How does it look to drive down any of the main thouroughways and see one after another of these loan shark companies. We can blame our legislature for being bought off by these near mafia types. You see, Alabama is one of a few "non-banking" states; which mean there is no ceiling on the interest rate either banks, credit card companies, or these loan sharks can charge. And don't tell me these people are doing a service. Take a retiree who only receives $500.00 per month on SS and that is all she has. She runs short in the third week and is lured into one of these places with promises of "no fees" on first transaction. If she returns she is paying $87.50 for a 2 WEEK loan, caught up in a vicious cycle where she is forever indebted to these scam artist. Write Bobby Denton and let him know if you agree with me that these types of organizations should be banned in the state.
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It doesn't take a genius to realize those places are scams. I've never set foot in one and I never intend to. I've also noticed they are placed in the poorest sections of town. Not only do they look horrible, but they are taking advantage of people who may be in desperate situations. They should be removed somehow.
I saw the program on PBS and was amazed how our government allows consumers to be ripped-off. Credit card companies can change your % rate at any time on previous charges for almost any deemed reason. The constantly try to trick people to charge unbelievable fee's. I recommended everyone watch this and beware.
Alabama State Senator Lowell Barron from Fyffe, had many of those loan shark operations.

Claiming he had some kind of religious experience and felt guilty about owning them, he sold them to his business partner.

The dirty little @*&#$^! wrote, in large part, the Alabama law that OK's their existance.

The state of Georgia, however, quite literally, made them illegal.

Now, Barron, re-elected to the AL state Senate, says he wants to "regulate" their operations.

IMO, Barron is a low-life who cares not one iota for the people.

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