Clarion Ledger by Jerry Mitchell Gov. Haley Barbour plans to sign a bill aimed at reducing the 572-percent equivalent interest on payday loans, his office said Monday. "The legislation has not reached the governor's office yet, but once it does - unless there's some unforeseen problem or surprise...
Clarion Ledger Editorial Board The House vote Monday for payday lending reform represents precious little reform and appears headed to one of those legislative instances in which "victory" is declared over a problem that remains unsolved The House and Senate conference committee compromise on payday lending legislation last...
Clarion Ledger by Molly Parker Compromise legislation that cleared the House Monday would extend the payday lending industry in Mississippi another 2 1/2 years while lowering the equivalent 572 percent interest rate allowed under current law. Religious and consumer advocates lined up against the bill, saying it didn't...
Clarion Ledger by Jerry Mitchell House Banking Committee Chairman George Flaggs said the House will vote today on whether to adopt payday lending reform to lower Mississippi's 572 percent equivalent interest rate. The House and Senate conference committee agreed on compromise legislation last week. "I can't write a...
Clarion Ledger By Ed Sivak, Guest columnist With conference report now filed on House Bill 455, the payday lending reform debate moves into its final stages. Though some changes have been made, if lawmakers pass the bill, Mississippi will remain home to some of the most expensive...
Clarion Ledger Jerry Mitchell Gov. Haley Barbour met with the nation's biggest payday lender when he traveled last week to South Carolina to seek support for a possible presidential run. His visit with donors, community leaders and Republican activists included representatives of Advance America, based in Spartanburg, S.C....
Clarion Ledger By Jerry Mitchell Mississippi religious leaders called Monday for state lawmakers to let a law sunset that permits payday lenders to charge the equivalent of 572 percent interest. The Rev. Frank Spencer, chief executive officer of Stewpot Community Services in Jackson, said payday lending is immoral...
Clarion Ledger The Senate Banking Committee amended a House bill Thursday aimed at reducing the 572-percent equivalent interest rate on payday loans, making it more palatable to the lenders. Read the full story here....
Clarion Ledger by Jerry Mitchell Mississippi lawmakers will hear testimony today on whether the state law enabling payday lenders to charge the equivalent of 572-percent interest rate should expire. House Banking Chairman George Flaggs scheduled the public hearing today to allow both sides to explain their positions. The...
