Memphis City Council urges state to ban all payday loan providers

Memphis City Council urges state to ban all payday loan providers

MEMPHIS, Tenn. (WMC) – Should payday loan providers be prohibited from Memphis and Tennessee?

The Memphis City Council appears 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 a week ago, Memphis City Councilman Chase Carlisle, whom sponsored the quality, explained why action is necessary now.

“I’m bringing this quality because quite a few times payday loan providers enter into our communities and finally harm the economic development more than they assist,” Carlisle stated. Continue reading “Memphis City Council urges state to ban all payday loan providers”