Memphis City Council urges state to ban all payday loan providers

Memphis City Council urges state to ban <a href=""></a> all payday loan providers

Should payday loan providers be prohibited from Memphis and Tennessee?

The Memphis City Council generally seems to think therefore.

Every council member voted in support of a quality urging Tennessee lawmakers to revoke and ban company licenses for several lenders that are payday.

Through the council’s meeting a week ago, Memphis City Councilman Chase Carlisle, who sponsored the quality, explained why action is required now.

“I’m bringing this resolution because too many times payday loan providers enter into our communities and eventually harm the economic development more than they assist,” Carlisle said. (más…)

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