Black Mayors in Georgia Endorse Cash Advance; Group Urges State Lawmakers to Pass House Bill 163 Posted on : Wed, 21 Feb 2007 13:14:01 GMT | Author : Georgians for Cash Advance News Category : PressRelease ATLANTA, Feb. 21 /PRNewswire/ -- The Georgia Conference of Black Mayors, with membership representing more than 1 million Georgians, has declared its support for regulating the cash advance industry and urges the Georgia Legislature to pass House Bill 163. HB 163 sets up a statewide licensing procedure for cash advance stores, and contains numerous consumer protections for people who need short term access to small amounts of cash for unplanned expenses. The bill requires cash advance customers to be employed and have a bank account. Cash advance fees are limited to only $15 on each $100 advanced, with no accrued interest, no rollovers allowed and no cash advances to military personnel. In a letter to Willie Green, Executive Director of Georgians for Cash Advance, GCBM President Willie Burns, Mayor of Washington, GA, said that HB 163 would "protect Georgians from unsafe lending practices." The letter stated that while the conference does not encourage Georgians to engage in the practice of cash advance, "we do realize there is a need for short term loans, and until other cheaper options are available, regulation of cash advance stores should be strongly considered." Georgians for Cash Advance CONTACT: Andy Bowen of Georgians for Cash Advance, +1-404-822-3309               Home|Apply Now!|FAQ|Fees|How It Works|Privacy|Legal|Contact Copyright © Global Cash Loan, 2007. All Rights Reserved.