Posted inEconomic Justice

A new bill brings higher loan fees, heavier burden for already struggling borrowers

Low-income borrowers will be disproportionately burdened by a bill passed Monday by the Tennessee Senate, critics say, that will boost the fees lenders can charge on some high-cost, short-term loans. Tennessee industrial loan and thrift (TILT) companies issued just over one million such loans in 2018, which totaled more than $4.1 billion, according to the […]