Liberty’s Effort To Modify Lenders Generates More Interest. Barbara Shelly

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 it has the proper to control organizations that practice high-interest financing, even though those continuing organizations claim to stay in a course of loan providers protected by state legislation.

The Northland city defended a recently enacted ordinance as a “valid and lawful exercise,” and asked that a judge dismiss a lawsuit brought by two installment lending companies in a recent legal filing.

Liberty a year ago became the newest of a few Missouri towns and cities to pass through an ordinance managing high-interest loan providers, whom run under among the nation’s most permissive group of state rules.

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