The House Banking and Insurance Committee will hold a public hearing today on payday loans at the Statehouse. It might be one of the more interesting committee hearings in this legislative session because the payday loan industry that is being attacked is actually not opposed to the opposition’s position.

Alabama Watch, who is a consumer watchdog in the state, is strongly opposed to the bill and will be testifying. The group thinks that payday loans, also called check deferment loans, should fall under the Small Loan Act.