City Court Filing Defends payday loans in Vermont Ordinance; Company Says It Varies From Payday Lenders
The town of Liberty contends this has the proper to control companies that participate in high-interest financing, whether or not those companies claim to stay a course of loan providers protected by state legislation.
The Northland city defended a recently enacted ordinance as a вЂњvalid and lawful exercise,вЂќ and asked that a judge dismiss a lawsuit brought by two installment lending companies in a recent legal filing.
Liberty this past year became the newest of a few Missouri towns to pass through an ordinance regulating high-interest lenders, whom operate under one of several nationвЂ™s most permissive group of state regulations. The regional ordinance defines a high-interest loan provider as a small business that loans money at a yearly percentage price of 45% or maybe more. Continue reading “LibertyвЂ™s Effort To Regulate Lenders Generates More Interest”