Mississippi Senate passes bill to enhance car title-lending

Mississippi Senate passes bill to enhance car title-lending

The Mississippi Senate authorized installment-loan legislation Wednesday that supporters say creates options for cash-strapped borrowers but has opponents stressing it expands predatory financing.

The balance, SB2409, won passage on a 38-11 vote.

Supporters of legislation authored by Sen. Rita Potts Parks, chairwoman associated with Business and Financial Institutions Committee, tout it in order to make sure short-term loans are available following the U.S.