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More on the attempt to bring back payday lending to NC

[1]As reported on the main NC Policy Watch site last week (It’s baaaack: Troubled Alabama bank tries to sneak payday lending back into North Carolina [2]) at least one bank (Regions Bank out of Alabama) is trying to bring payday lending back into North Carolina after state lawmakers, regulators and advocates chased the practice away more than a decade ago.  

Mark Binker over at WRAL had more on the story over the holiday weekend [3], including the fact that a much larger and more respectable  institution, SunTrust Bank, may be considering doing its own shark impression as well. Let’s hope that SunTrust and others come to their senses and realize that payday lending is bad news for the state’s consumers and bank reputations.