Thursday, June 8, 2006

In a hotly-contested race for a seat in the Alabama State Senate, candidates are squaring off on a number of issues.

One such issue is payday loans and their regulation.

Randolph County Circuit Court Clerk Kim Benefield is attempting to unseat District 13 State Senator Gerald Dial, who has become an institution in the eastern part of the state. A major point of contention between the political novice and the 23-year veteran is a bill involving short-term, fast cash advance lending.

"[Dial] was the sponsor for the bill that allows a payday loan company to come into Alabama and charge up to 450 percent interest. That's wrong," said Benefield.

Dial shot back that his efforts to get the bill passed actually help curtail egregious payday advance loan sharking.

"It took the loan sharks off the street. It made them do two things: It made them register with the banking commission, and it put a limit that they could only charge 17.5 percent interest," Dial said.

Benefield said Dial also voted against a rural development center that would help people in the less-populated areas of the state, one that would "pool resources, and give rural Alabamians a resource center as far as bringing in ways to market their products."

Dial says he's doing everything he can to help his district.

"I have brought industry. The job market in my area is the best it's ever been. Mrs. Benefield has been in the courthouse too long to know what developing rural Alabama is all about," the Senator said.

Voters head to the polls Tuesday to vote.

This entry was posted on Thursday, June 8th, 2006 at 9:16 am and is filed under Alabama.