High-interest payday and title loans spark calls for reform in Tennessee

NASHVILLE, Tenn. (WZTV) — When James Pointer’s wife was injured and couldn’t work, he turned to TitleMax for a $2,500 loan to get by.

“I was in a jam,” Pointer said.

Two years later, despite never missing a monthly payment, Pointer still owed more than $3,200. The buyout on his loan was $13,664, an amount he says he could never have paid without help from a friend…

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