SB2316 - Tennessee: Short Term Loans And Lenders

Companion Bill HB2301. Short Term Loans and Lenders - Lowers amount of fees and interest a title pledge lender may charge military personnel and their families. - Amends TCA Title 45, Chapter 15 and Title 45, Chapter 17. Fiscal Summary for SB2316 / *HB2301Increase State Revenues - Not Significant Increase State Expenditures - Not Significant Increase Local Govt. Revenues - Not Significant Increase Local Govt. Expenditures - Not Significant Bill Summary for SB2316 / *HB2301 Present law limits the amount of interest that any title pledge lender may charge to 2 percent per month and authorizes the title pledge lender to charge a fee at the inception of any renewal of the agreement to defray the ordinary costs of operating a title pledge office, not to exceed 20 percent of the original principal amount of the title pledge agreement or of the [...]

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