Mississippi Senate passes bill to grow automobile title-lending


Mississippi Senate passes bill to grow automobile title-lending

By TED CARTER

The Mississippi Senate authorized installment-loan legislation Wednesday that supporters say creates options for cash-strapped borrowers but has opponents stressing it expands predatory financing.

The bill, SB2409, won passage on a 38-11 vote.

Supporters of legislation authored by Sen. Rita Potts Parks, chairwoman for the company and Financial Institutions Committee, tout it in order to make sure loans that are short-term available following the U.S. customer Financial Protection Bureau enacts sweeping brand brand brand brand new reforms, possibly as soon as this spring. 続きを読む “Mississippi Senate passes bill to grow automobile title-lending”