this post was submitted on 11 May 2025
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Reporting Highlights

  • Wave of Lawsuits: Since introducing the Flex Loan in 2015, Tennessee-based lender Advance Financial has filed over 110,000 lawsuits against its borrowers.
  • High Interest and Fees: Flex Loans offer borrowers up to $4,000 at 279.5% interest, trapping thousands of people in debt that can land them in court.
  • Sidestepped Federal Regulators: Advance Financial lobbied lawmakers to create the new Flex Loan to avoid federal consumer protection regulations.
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[–] Thalion@lemmy.ca 12 points 1 day ago (1 children)

Would be very interesting to see how many of those 100k voted for the Republicans that cleared the way for this to become legal

[–] Bouzou@lemmy.world 1 points 13 hours ago

Well it's Tennessee, so safe to say A LOT...