Taking a Bite Out of Payday Predators
Plus, News on Biden's Plans to Boost the Economy
The U.S. House could soon vote on a resolution to overturn the “fake lender” rule, which protects rent-a-bank schemes where predatory consumer and small business lenders charge interest rates of up to 200% APR, evading state- and voter-approved rate caps. Recently passed 52–47 in the Senate, and introduced in the House by Rep. Jesús “Chuy” García(D-IL), the Congressional Review Act resolution of disapproval (H.J. Res. 35/S.J. Res. 15) would overturn the “fake lender” predatory lending rent-a-bank rule.
Photo by David Clode on Unsplash
American Jobs Plan Addresses Housing Issues
“Home is where we lay our heads, hug our loved ones, make our memories. But today, this most basic of human needs — shelter — is often put out of our reach to turn a quick profit for the wealthiest 1%,” said Rev. Billy Vaughn, retired United Methodist Pastor and Professor at Memphis Theological Seminary. “A handful of lawmakers and the real estate speculators, corporate developers and landlords that fund their campaigns have handed themselves kickbacks while jacking up rents, peddling faulty mortgages and destroying affordable options.
So this is why I call on our elected leaders across Tennessee, including Senators Marsha Blackburn and Bill Hagerty to support the American Jobs Plan.
American Families Plan is Good for Business
The Tennessee Small Business Alliance this week announced support for Joe Biden’s American Families Plan and noted the effort will boost the ability of small business owners to hire and retain workers. The group highlighted remarks made by business owners at a recent forum.
Lenda Sherrell, state director of the Tennessee Small Business Alliance noted the remarks of Signal Centers CEO Donna McConnico.
“President Biden’s American Families Plan will offer a significant step forward in supporting the workforce on which small and local businesses depend at this critical time,” said Sherrell