Commercial Appeal:

NASHVILLE -- Gov. Bill Haslam is proposing new restrictions to the Tennessee Consumer Protection Act, including a ban on class-action lawsuits against violations of the 34-year-old law.

The governor also wants to exempt securities from the act's coverage on the grounds that equities are regulated by federal and state laws tailored to them.

(By way of Tom Humphrey)

According to the article, Haslam's lawyer says it provides "clarity" for business and other states have done it so they want to be competitive.

The Tennessee Chamber of Commerce says they brought it to the Governor's attention because they hear from a lot of businesses that it's "unfair."

So basically they want to create a haven for corporations looking to avoid liability and lure financial grifters to the state.

OK, then.