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AJC.com > Legislature > Blog > Archives > 2007 > March > 27 > Entry
DEL.ICIO.USPayday lending falls short in House
The Atlanta Journal-Constitution
Georgia lawmakers today rejected a bid to legalize payday lending.
The state House voted 82-77 for House Bill 163, but that was short of the 91 votes needed to send the measure on to the Senate.
Georgia legislators shut down the payday lending industry with a tough law passed in 2004.
The industry markets high-interest loans that are advances on a worker’s next paycheck. The cost of borrowing is usually greater than 300 percent annually.
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