Memphis City Council urges state to ban all payday lenders

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 payday loan providers.

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

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

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