Tennessee a National Leader in Predatory Lending

Memphis, Nashville, and Chattanooga among Top 10 Cities

DebtHammer is out with a report naming the top places in the country for legalized loan sharking, and Memphis, TN is number one in America. Also making the Top 10 are Nashville and Chattanooga. Tennessee is truly a national leader in creating a welcoming climate for payday predators and the only state with multiple cities in the top 10. DebtHammer also notes Tennessee is the only state where someone can get a payday loan and place a bet under the same roof.

Here’s the top 10 list:

1.Memphis, Tenn.
2. Jackson, Miss.
3. Las Vegas
4. Baton Rouge, La.
5. New Orleans
6. Nashville, Tenn.
7. Chattanooga, Tenn.
8. Dallas-Fort Worth
9. Houston
10. Birmingham, Ala.

This list represents the worst cities in the country for payday lending. Here’s more on how DebtHammer compiled the data:

DebtHammer compared data from U.S. cities with populations of 500,000 or more to find the top cities with the worst payday lending problems. Rankings were compiled by…