Fri
Jun 3 2016
12:58 pm

The Payday Loan industry pays your TN lawmakers to keep its predatory loan shark business insanely profitable.

“Tennessee families pay more than $400 million a year in payday and car title lending fees,” Spears told reporters. “The average Tennessee borrower pays $490 in fees to borrow $300 for five months.”

Want to know why your state officials don't work for you? Look at their campaign financial statements!

Payday and title loan companies have contributed at least $2.1 million to Tennessee political candidates and committees between 2010 and 2014, said Spears, who added that has left “the deck so clearly stacked against Tennesseans.”

Noting he met a wall over the last two years pushing some proposed curbs in the Legislature, Spears said “we don’t have $2.1 million to give to Tennessee politicians.”

The numbers work out to spending $400,000 on your legislature gets them $400,000,000 in profits. I think our legislators are selling us out for way too little money. They should demand much more.

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