The lending that is payday contributed thousands and thousands of bucks to Tennessee lawmakers due to the fact industry forced for a brand new style of loan when you look at 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 sufficient reason for bipartisan help in the home.
But our investigation found that few lawmakers questioned this new item or perhaps the high interest.
Rep. Mike Stewart, D-Nashville, had been among the lawmakers that are only publicly enquire about information on the balance. Continue reading “Lawmakers Took Payday Cash, Asked questions that are few”