Liberty’s Effort To Manage Lenders Generates More Interest. City Court Filing Defends Ordinance; Company Says It Differs From Payday Lenders

Liberty’s Effort To Manage Lenders Generates More Interest. City Court Filing Defends Ordinance; Company Says It Differs From Payday Lenders

City Court Filing Defends Ordinance; Company Says It Varies From Payday Lenders

The town of Liberty contends it offers the ability to control organizations that participate in high-interest financing, even though those continuing companies claim to stay in a course of loan providers protected by state legislation.

In a current appropriate filing, the Northland town defended a recently enacted ordinance being a “valid and legal exercise,” and asked that the judge dismiss a lawsuit brought by two installment financing organizations.

Liberty just last year became the newest of a few Missouri towns to pass through an ordinance managing high-interest loan providers, whom run under one of many nation’s most permissive group of state guidelines. Read more