Fri
Sep 6 2013
06:46 am
Payday lender to sponsor Maryville College football and basketball
By: R. Neal

Checks into Cash of Knoxville says they are sponsoring Maryville College's football and basketball season. They will "support the live streaming broadcast of all Scots football and basketball games" and "will also be the exclusive sponsor of the post-game coaches show."

Bonus, you can stop by a Checks into Cash store to register to win free tickets. (How much are tickets, anyway? Probably a lot cheaper than the interest on a payday loan.)

We're a little disappointed that Maryville College would associate themselves with this outfit. But it's chump change compared to the $4 million U.T. took from Checks into Cash founder Allan Jones for a new aquatic center named in his honor.

So, who is Allan Jones? Here's a profile. There's also this.

Checks into Cash has been the target of class action lawsuits and regulatory actions in several states (see North Carolina, Missouri, and South Carolina) regarding lending practices. They settled the above mentioned cases without admitting any liability.

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Bbeanster's picture

Just following in UT's

Submitted by Bbeanster on Fri, 2013/09/06 - 10:39am.

Just following in UT's footsteps?

(link...)

The Toby McKenzie story would make a good TV cautionary tale.

Tamara Shepherd's picture

*

Submitted by Tamara Shepherd on Fri, 2013/09/06 - 11:10am.
(in reply to Bbeanster)

Glad you posted that because I'd remembered the story incorrectly and was just about to ask if UT hadn't refunded money received from one of these chumps a few years back.

Guess they didn't.

For shame, for shame.

fischbobber's picture

Tennessee Constitution

Submitted by fischbobber on Fri, 2013/09/06 - 1:10pm.

Interest rates are capped at 10% by constitution in Tennessee. This is one of but many businesses ignoring that cap. Tim Burchett was responsible for the legislation that circumvented the constitution. This stuff is just wrong.

rikki's picture

usury

Submitted by rikki on Fri, 2013/09/06 - 1:33pm.

Civilized cultures have strict edicts against usury. That includes the Bible, though apparently not the one used at Republican megachurches.

Local Citizen's picture

Out of State

Submitted by Local Citizen (not verified) on Fri, 2013/09/06 - 2:06pm.

Loan companies within the state are restricted by the interest cap, but not companies registered out of state. That is the reason a lot of them, including credit card companies, are registered in South Dakota. Interstate commerce protects them from the various state usury laws.

Average Guy's picture

Having a check cashing place

Submitted by Average Guy on Fri, 2013/09/06 - 4:44pm.

Having a check cashing place sponsor a place of academics is like having Jack Daniels sponsor an AA meeting.

The sponsorship could be totally separate from the core idea of what you’re doing, but why put them together in the first place?

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