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Tennessee Panders to Payday Predators
Build Back Better a Key to Improved Health Outcomes
DebtHammer is out with a report naming the top places in the country for legalized loan sharking, and Memphis, TN is number one in America. Also making the Top 10 are Nashville and Chattanooga. Tennessee is truly a national leader in creating a welcoming climate for payday predators and the only state with multiple cities in the top 10. DebtHammer also notes Tennessee is the only state where someone can get a payday loan and place a bet under the same roof.
While other states have adopted a 36% rate cap and heavily regulated payday predators, Tennessee (the birthplace of payday loans) has an interest rate of 460%. So far, there has been little interest among the state’s policymakers in measures that would rein-in an industry that takes millions from Tennessee families and communities by way of fees and triple-digit interest rates.
Better Health with Biden’s Plan
Tennessee groups focused on healthcare outcomes are calling on the state’s congressional delegation to support President Biden’s Build Back Better plan, which includes funding for a number of health initiatives.
“We are imploring the Tennessee congressional delegation to support this budget that reflects Christian values,” said Rev. Dr. Kevin Riggs, Pastor of Franklin Community Church. “One core Christian value is the belief that every human is made in God’s image and deserves to live a safe and healthy life. We believe in equity and justice for all. And by improving public health, protecting God’s creation, and prioritizing those who are economically disadvantaged, this plan helps create an equitable economy that improves the lives and well being of everyone.