Should payday loan providers be prohibited from Memphis and Tennessee?
The Memphis City Council appears to think therefore.
Every council user voted and only an answer urging Tennessee lawmakers to revoke and ban company licenses for many lenders that are payday.
Through the council’s conference a week ago, Memphis City Councilman Chase Carlisle, whom sponsored the resolution, explained why action is required now.
“I’m bringing this quality because too many times payday lenders enter into our communities and fundamentally harm the growth that is economic than they assist,” Carlisle stated. (more…)