Senator With Payday Loan History Wants To Change Industry
Lowell Barron, a state Senate leader who used to own payday loan businesses wants to put more restrictions on the high-interest operations if he’s re-elected to the Senate. Barron said he will propose bills that would prevent lending companies from extending payday loans. Wtvm.com reports:
Prohibit payday loan and title loan businesses from operating within five miles of a military installation, from garnishing military salary or wages, and from collecting a loan from a military member deployed overseas for combat.
Read more: Senator who had payday loan firms seeks changes in industry