Does anyone know why all the payday loan centers in NC are closing? Was there a recent law passed against it?

A lot of the centers in my area that do payday loans are suddenly closed. Why? Some lady my fiance works with said it was because they are illegal? Is that true?
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I heard a rumor that something passed that didn't allow them to charge the huge extra fee ($20 per $100 or so) So maybe they were losing cash.

I've bookmarked this site to go back to...

http://www.knowledged.info/go.php?link=l...

All the best to you.
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I remember reading something about it, and I believe they have made those companies start charging a lot lower interest rate, so since they can't charge 400% interest, they have decided to close. They were a horrible business the way they take advantage of people.
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I think that the prudent thing to do is to just save up a little money. About a dozen choices here: http://loan.dealsthisway.com Good luck.