SB1071 - Tennessee: Banks And Financial Institutions, Short Term Loans And Lenders

Banks and Financial Institutions - Requires any person who makes a title pledge loan without a license, and who does not return collateral and any money paid by borrower, to pay interest to borrower at 10 percent per annum of amount owed. - Amends TCA Section 45-15-101; Section 45-15-102; Section 45-15-103; Section 45-15-104; Section 45-15-105; Section 45-15-106; Section 45-15-107; Section 45-15-108; Section 45-15-109 and Section 45-15-110.

Increase Local Govt. Revenues - Not Significant Increase Local Govt. Expenditures - Not Significant