Alabama-based payday lender under scrutiny

A shark in a 3-piece suit is still a shark:

North Carolina officials are seeking answers from an Alabama-based bank that is offering payday loans in the state. Such short-term, high-interest loans are illegal in North Carolina. The loans have an APR between 120 and 365 percent. A company spokeswoman said in a statement that the product is meant to meet the credit needs of existing customers in good standing.

I'd also suggest Roy Cooper's office take a look at how many of these folks are also being preyed upon by another illegal entity, the video sweepstakes crowd. Call me a nanny-stater if you wish, but I've personally witnessed both push families to the brink of disaster.