Flex Loans Bill
March 9, 2015
A bill has been proposed that would allow financial institutions to offer “flex loans” to consumers, loans ranging from $500 to $3,000. Proponents say it will offer people with bad credit a chance to get small loans to help deal with unexpected bills. Opponents say the high-interest loans would be the return of “payday” loans that can trap consumers in debt, forcing them to be permanently on the looking for how to get 1000 dollars fast to pay their next bill. Representative J.D. Mesnard, the sponsor of the bill, will talk about the measure, along with Representative Debbie McCune Davis, who opposes the legislation.