Memphis City Council urges state to ban all lenders that are payday

Memphis City Council urges state to ban all lenders that are payday

Should payday loan providers be prohibited from Memphis and Tennessee?

The Memphis City Council generally seems to think therefore.

Every council user voted in support of a quality urging Tennessee lawmakers to revoke and ban company licenses for many payday loan providers.

Through the council’s conference week that is last Memphis City Councilman Chase Carlisle, whom sponsored the quality, explained his comment is here why action is required now.

“I’m bringing this quality because too many times payday loan providers enter into our communities and eventually harm the economic development more than they assist,” Carlisle stated.