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Liberty’s Work To Regulate Lenders Generates More Interest

Liberty’s Work To Regulate Lenders Generates More Interest

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

Barbara Shelly

Above image credit: picture example. (Adobe)

The town of Liberty contends this has the proper to control companies that participate in high-interest financing, regardless if those continuing companies claim to stay in a course of loan providers protected by state legislation.

In a recently available appropriate filing, the Northland city 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 year that is last 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 collection of state regulations.