- The Progressive Pulse - http://pulse.ncpolicywatch.org -

Legislative Black Caucus assails payday lending bank

In case you missed it, the North Carolina Legislative Black Caucus sent a powerful letter to Regions Bank this week [1]. Regions is the Alabama bank that’s trying to reintroduce the banned practice of high-cost, predatory payday lending in the state. The group joins Attorney General Roy Cooper and a large group of consumer protection groups calling on Regions to halt making the loans — which can have interest rates as high as 365% APR.