Mississippi Business Journal » Payday lending

State House passes payday-lending bill despite objections

Associated Press — Fri, 25 Jan 2013 13:24:27 +0000

JACKSON — The Mississippi House has voted to let payday lending businesses keep operating in the state beyond 2015, despite objections by some lawmakers that the shops congregate in poor neighborhoods and take advantage of people who might not be financially savvy. Supporters say the businesses provide easy access to cash for people who might [...]

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All American completes purchase of Check Exchange locations

MBJ Staff — Thu, 26 Jul 2012 21:45:37 +0000

MADISON — All American Check Cashing has completed the acquisition of six Check Exchange of Mississippi retail locations. Terms were not disclosed. This marks the second merger for All American this year and increases the total number of retail stores in Mississippi to over 38. In June, All American completed the merger and acquisition of [...]

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Controversial payday lending bill approved by Senate

Associated Press — Wed, 16 Feb 2011 19:45:28 +0000

JACKSON — The Mississippi Senate has passed the final version of a bill designed to reduce fees on payday loans, sending the legislation to the governor’s desk. Eight senators voted against the bill today. The House passed the bill Monday. The bill would establish a tiered system of caps on fees for payday loans, based [...]

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Payday lending bill passes House, but fight may continue

Associated Press — Tue, 15 Feb 2011 13:41:28 +0000

JACKSON — Supporters say the final version of a payday lending bill that passed the Mississippi House yesterday could reduce consumers’ out-of-pocket expenses for short-term loans, but the fight might not be over. Even though the measure passed on a 76-43 vote, opponents held it for the possibility of more House debate before it can [...]

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Legislative panels differ on payday lending bill

Associated Press — Mon, 24 Jan 2011 16:05:48 +0000

JACKSON — The chairman of the House Banking Committee says that if a “reasonable” deal isn’t reached on a proposed state payday lending law, the issue might be put on hold until 2012. “Unless they come up with an agreement, a reasonable compromise, it’s best to leave it alone,” committee Chairman George Flaggs, D-Vicksburg, said [...]

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House passes controversial payday lending bill

Associated Press — Wed, 19 Jan 2011 13:25:49 +0000

JACKSON — The Mississippi House passed a bill yesterday that would give consumers more time to pay off short-term loans and would reduce the maximum amount of interest payday lenders could charge. The bill also would let payday-lending businesses operate at least another five years in Mississippi. It passed 78-38 after more than an hour [...]

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House banking panel OKs payday-lending extension

Ross Reily — Tue, 11 Jan 2011 22:49:44 +0000

By Ted Carter A 7-year renewal of Mississippi’s payday lending law – including a $100 increase in the amount that can be transacted — received an endorsement Tuesday from the state House’s Banking and Finance Committee. Bill sponsor Rep. George Flaggs, a Vicksburg Democrat and chair of the Banking and Finance Committee, said the bill [...]

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