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Let me make it clear about Cities, Lenders Resume Battle Over High-Interest Loans

Let me make it clear about Cities, Lenders Resume Battle Over High-Interest Loans

Bill Before Missouri Gov. Mike Parson Would Undermine Municipal Regulations

Above image credit: Abby Zavos worked difficult to pass an ordinance managing high-interest financing in Liberty, but fears her efforts should be undercut. (Barb Shelly | Flatland)

Tower Loan in Liberty is sandwiched in a strip shopping center, a lending that is payday on its left and a taxation planning workplace on its right.

It gives fast money with few questions expected. It really is 1 of 2 companies suing Liberty throughout the town’s attempt to control high-interest financing. And, as well as other installment loan providers, Tower Loan has reached the middle of issues about a bit of legislation presently sitting regarding the desk of Missouri Gov. Mike Parson.

Regarding the Friday prior to the Memorial Day week-end, Jeff Mahurin invested just a couple of minutes inside the Liberty branch workplace. “I happened to be simply paying down the things I owed,” he said. “I got my stimulus check.”

Mahurin, that is in a jobs training curriculum, said he took down that loan in October after their spouse ended up being injured on the work plus they had been in short supply of money to cover bills. He stated he borrowed $2,000 and thought he paid less in interest he doesn’t have than he would have by financing purchases on a credit card, which.