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The Flex Loan was pioneered by Advance Financial in Tennessee with the approval of the Tennessee Legislature. These loans have 279% interest -- couched not as interest but a "customary fee." Other states have banned these loans. Great work by @friedmanadam5.bsky.social.

May 5, 2025, 1:46 PM

Record data

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    "text": "The Flex Loan was pioneered by Advance Financial in Tennessee with the approval of the Tennessee Legislature. These loans have 279% interest -- couched not as interest but a \"customary fee.\" Other states have banned these loans. Great work by @friedmanadam5.bsky.social.",
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        "uri": "https://tennesseelookout.com/2025/05/05/this-lender-said-its-loans-would-help-tennesseans-it-has-sued-more-than-110000-of-them/",
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        "title": "This lender said its loans would help Tennesseans. It has sued more than 110,000 of them. • Tennessee Lookout",
        "description": "The Flex Loan, a type of payday loan pioneered by Tennessee-based Advance Financial, has burdened low-income borrowers."
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