The payday financing lobby contributed thousands and thousands of bucks to Tennessee lawmakers once the industry pressed for a fresh variety of loan within the state, NewsChannel 5 Investigates discovered.
The versatile Credit Act created flex loans and legalized their 279% apr. It sailed through the typical Assembly in 2014, moving unanimously within the state Senate along with bipartisan help inside your home.
But our investigation found that few lawmakers questioned the newest item or perhaps the high interest. Continue reading