The citizens of North Carolina have been experiencing the tug of war over payday lending in North Carolina. In a recent turnaround, the state became an anti-cash loan lending state a few short years after approving legislation that allowed cash loan lending in North Carolina. North Carolina is working to strengthen any weaknesses in their current legislation against payday lending. Despite all this activity, we have cash loan products available in North Carolina for you.
Laws in North Carolina regarding Cash Loan Lending
North Carolina has had an ongoing battle for and against payday lending since 1997 when legislation was approved and passed for allowing payday lending in the state. After this payday legislation expired in the year 2001, it became illegal to conduct payday lending in North Carolina. The fight continues as the state is interested in keeping the law. As of 2005, North Carolina citizens have been getting offers of cash loans from out of state payday lenders. In a move that made many people who are against cash loan lenders in North Carolina felt was a victory, one lending company, Advance America, was ordered by Commissioner Joseph A. Smith Jr. to immediately stop the practices of lending in the state of North Carolina.
There are no payday lenders working legally in the state of North Carolina.
North Carolina Unemployment Statistics
The unemployment rate in North Carolina in January 2006 was 4.8, which means that 206,446 people were unemployed at that time. In January 2005, the unemployment rate was 5.7. Over the past ten years, the unemployment rate has not risen above 7.5, or fallen below 2.9.