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Alabama Partners with Veritec Solutions to Protect Consumers in the Payday Lending Industry

On August 10th, 2015 Alabama joined thirteen other states in partnering with Veritec Solutions to protect consumers and ensure compliance with state law by implementing a real-time database for regulation of the payday lending industry. Veritec Solutions provides a proven, cloud-based technology solution combined with high quality customer service. We deliver unparalleled levels of regulatory compliance for the payday and small dollar lending industry while enforcing consumer protections provided under Alabama law. The Alabama State Banking Department released an RFP in October of 2014 seeking a 24x7x365, fully managed real-time regulatory database for their deferred presentment industry, and Veritec Solutions […]

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Frequently Asked Questions: New Alabama Statewide Database for Deferred Presentment Providers

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Utahns Favor Limits on Payday Loans

Most Utahns want stronger consumer controls on the state’s payday loan industry, a new UtahPolicy poll finds. Payday loans have been an issue in about every general legislative session over the past few years. Lawmakers convene Jan. 26 for their 2015, 45-day general session and payday loan regulation will again be an issue. And such loans – which can reach over 400 percent annually in Utah’s relatively-unregulated industry – and those who provide them were at the heart of disgraced former AG John Swallow’s 2012 campaign donation scandal. Read the full article on […]

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