NC consumer loan changes before Senate panel - WSLS 10 NBC in Roanoke/Lynchburg Va

NC consumer loan changes before Senate panel

Posted: Updated:
RALEIGH, N.C. -

An effort to permit North Carolina's licensed installment lenders to charge higher interest rates on many customers is back before a legislative committee two years after a similar bill died following opposition by the military.

The Senate Commerce Committee scheduled debate Tuesday on a measure that the consumer finance industry says it needs to stay profitable and stop a hemorrhage of jobs. Consumer advocates say the installment lenders are doing fine and argue too many of their borrowers are in a cycle of debt.

A 2011 bill barely passed the House and went nowhere else as military commanders in the state argue it could hurt young soldiers, sailors and Marines naive about seeking credit. The industry says it's inserted some consumer protection provisions in the bill for service members.

  • FAA proposes to fine Southwest Airlines $12M

    FAA proposes to fine Southwest Airlines $12M

    Monday, July 28 2014 3:48 PM EDT2014-07-28 19:48:05 GMT
    The Federal Aviation Administration said Monday it is proposing a $12 million civil fine against Southwest Airlines for failing to comply in three separate cases with safety regulations related to repairs on Boeing...
    The Federal Aviation Administration said Monday it is proposing a $12 million civil fine against Southwest Airlines for failing to comply with safety regulations related to repairs on Boeing 737 jetliners.
  • Police: Man killed family, himself in Maine

    Police: Man killed family, himself in Maine

    Monday, July 28 2014 3:31 PM EDT2014-07-28 19:31:00 GMT
    Neighbors struggled to make sense of the shooting deaths of a family of five in which the father was known to many throughout their apartment complex as a friendly maintenance worker.
    A suicidal man having financial problems killed his wife, three children and then himself over the weekend, police said Monday.
  • Dollar Tree steps up fight, buys Family Dollar

    Dollar Tree steps up fight, buys Family Dollar

    Monday, July 28 2014 3:28 PM EDT2014-07-28 19:28:08 GMT
    Dollar Tree is buying rival discount store Family Dollar in a cash-and-stock deal valued at about $8.5 billion.
    The fight for penny pinchers is intensifying.
  • Trending StoriesTrending StoriesMore>>

  • Wilson community holds vigil for slain 7-year-old boy

    Wilson community holds vigil for slain 7-year-old boy

    Monday, July 28 2014 4:58 AM EDT2014-07-28 08:58:46 GMT
    Hundreds stood outside the Wilson County Courthouse on Sunday night to help a family grieve four days after 7-year-old Kamari Jones was shot and killed in his own home.
    Hundreds stood outside the Wilson County Courthouse on Sunday night to help a family grieve four days after 7-year-old Kamari Jones was shot and killed in his own home.
  • 2 charged with first-degree murder in beating death of UNC professor, cancer researcher

    2 charged with first-degree murder in beating death of UNC professor, cancer researcher

    Friday, July 25 2014 9:00 AM EDT2014-07-25 13:00:14 GMT
    A UNC research professor was robbed and beaten to death Wednesday afternoon on University Drive in Chapel Hill, police said.
    A UNC research professor was robbed and beaten to death Wednesday afternoon on University Drive in Chapel Hill, police said.
  • Stolen dinosaur replica returned to Raleigh museum

    Stolen dinosaur replica returned to Raleigh museum

    Monday, July 28 2014 12:13 PM EDT2014-07-28 16:13:16 GMT
    A model of a baby dinosaur that was stolen from the Museum of Natural Sciences has been returned to the museum, officials said at a news conference Monday.
    A model of a baby dinosaur that was stolen from the Museum of Natural Sciences has been returned to the museum, officials said at a news conference Monday.
Powered by WorldNow

WSLS 10, P.O. Box 10
Roanoke, VA 24022-0010

Telephone: 540.981.9110
Fax: 540.343.3157
Email: news@wsls.com

Can't find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 Media General Communications Holdings, LLC. A Media General Company.