Report: Tennessee Opens Door to Welcome Predatory High-Cost Installment Loans

FOR IMMEDIATE RELEASE: September 5, 2017 CONTACT: Andy Spears (andy@tnca.org) 615.815.4544 Stephen Rouzer (srouzer@nclc.org) 202.595.7847 Report: Tennessee Opens the Door to Welcome Predatory High-Cost Installment Loans NCLC’s 50 State Survey Finds Tennessee Lost Major Ground since 2015; Now One of the Worst in the Nation in Protecting its Citizens from Predatory Loans Updated analysis of […]

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Payday Loans Called “Ridiculous”

That’s the statement from Chattanooga City Council member Carol Berz after that city’s Mayor’s Council on Women released a study on payday lending. Here’s more from the Chattanooga Times-Free Press: In a new assessment of short-term payday loans, the Chattanooga Mayor’s Council on Women said such loans cost borrowers too much, are too frequently rolled […]

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Stand Strong in 2017

Friends, As we prepare for 2017, we have many fights ahead. We need to stand strong and fight hard.  We’ll be fighting aggressively for access to healthcare and to protect consumers from fraud.  Today, we’re asking for your support to help keep us fighting. We’ve set a goal of raising $1000 before the year’s end. We’re just […]

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Don’t Put Payday Loan Debt in the Stockings

December 19, 2016 by  
Filed under Issues, Payday Lending, Recent Blog Posts

While it may be tempting to add a little Holiday Cheer by way of extra cash from a payday loan, the long-term debt you’ll experience will feel like a lump of coal after the New Year. The Palm Beach Post reports: stopthedebttrap.org looked at how much it would cost to buy the top 15 items […]

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Of Football and Payday Predators

December 16, 2016 by  
Filed under Issues, Payday Lending, Recent Blog Posts

Friends, Our “Week of Action” is in full force and it is time to stand up to payday predators! Today, we’re asking for your help to stop the TV ads that legitimize payday lending loan sharks.  Payday predators take nearly $400 million from Tennessee families each year — that’s money that could be spent in local […]

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Stand Up, Fight Back!

Now more than ever, it is critical that we stand together — that we stand up, and fight back. Recent election results mean those who would roll back important consumer protections will soon be in power. There have been calls to repeal the Affordable Care Act and to dismantle the Consumer Finance Protection Bureau (CFPB). […]

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Borrower Beware! Loan Sharks on the Prowl

October 4, 2016 by  
Filed under Issues, Payday Lending, Recent Blog Posts

Tennessee Citizen Action is keeping up the fight against payday predators and we need your help. The last day to send comments to the Consumer Finance Protection Bureau (CFPB) on their proposed small dollar lending rule is October 7th. The legalized loan shark industry is fighting back — generating comments at an alarming rate. The […]

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Double Your Impact — Keep the Fight Alive

This year, we’ve been fighting hard on issues ranging from healthcare security to payday lending to campaign finance transparency. We plan to keep fighting — this year and into the 2017 legislative session. And we’re pleased to have the support of activists from across the state. Now, we have a tremendous opportunity to strengthen our […]

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The Case for Payday Lending Reform

September 12, 2016 by  
Filed under Issues, Payday Lending, Recent Blog Posts

The Orlando Sentinel argues that the CFPB’s proposed payday lending rules should be made stronger: The proposed federal regulations would compel payday lenders to do more to assess whether a borrower has the ability to afford a loan. They would be required to check the borrower’s credit and consider his other living expenses. This is […]

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Strong Payday Lending Rule Needed

September 6, 2016 by  
Filed under Issues, Payday Lending, Recent Blog Posts

Consumer advocates from Arizona analyzed complaints about payday lenders from the CFPB database and what they found was a need to rein-in the worst abuses of a predatory industry. Here’s a short summary of what they found: The analysis of consumer complaints about predatory lending to the CFPB shows a critical need to rein in […]

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