House Sides with Predatory Lenders Over Mississippi Families

Jackson, Miss. — Today, the Mississippi House of Representatives passed House Bill 547, legislation that I voted NO on because it prioritizes the interests of predatory lenders over the financial well-being of Mississippi families.

HB 547 weakens consumer protections and further entrenches a lending system that disproportionately targets working-class families, seniors, and communities of color—those already struggling with rising costs of living, stagnant wages, and limited access to traditional banking services. Rather than offering relief, this bill allows high-cost lending practices that trap borrowers in cycles of debt that are difficult, and often impossible, to escape.

“Mississippi does not need more laws that make it easier to profit off desperation,” said Representative Jeramey Anderson. “We should be working to protect families, encourage fair lending, and promote real economic opportunity—not rubber-stamping policies that benefit lenders at the expense of everyday people.”

Mississippi already ranks among the states with the highest levels of payday and high-interest lending usage in the country. Advocates and faith leaders have repeatedly called on lawmakers to strengthen consumer protections, cap excessive interest rates, and expand access to responsible financial alternatives. HB 547 moves the state in the opposite direction.

“I believe government has a responsibility to stand with people—not predatory business models,” Anderson continued. “My vote today reflects my commitment to fairness, accountability, and economic justice for the people I represent.”

Representative Anderson remains committed to advancing legislation that supports responsible lending, protects consumers, and builds pathways to long-term financial stability for Mississippi families.

###