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New Study Shows How Overregulating Short-Term Lenders Harms Consumers

We at CFIF have consistently highlighted the peril of federal, state and local government efforts targeting the short-term consumer lending sector.

Less than two years ago, we specifically sounded the alarm on a New Mexico law artificially restricting interest rates on short-term consumer loans.

Well, a new study entitled "A New Mexico Consumer Survey:  Understanding the Impact of the 2023 Rate Cap on Consumers" that surveyed actual borrowers confirms our earlier warnings:

Key findings include:

•Short-term,small-dollar loans help borrowers manage their financial situations, irrespective of the borrower’s income.

•The rate cap has failed to improve the financial wellbeing of New Mexicans, specifically those who had previously relied on short-term, small-dollar loans.

•…[more]

November 27, 2023 • 03:57 PM

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CFIF Launches New Ads Calling for Full Repeal of Tennessee’s Certificate-of-Need Laws Print
By CFIF Staff
Thursday, March 09 2023

“Lost Hospitals, Lost Health Care Services, Lost Jobs…It’s Time to Fully Repeal the Tennessee CON.”

NASHVILLE, TN – Today, the Center for Individual Freedom (CFIF) launched a new digital advertisement in the Knoxville media market as part of its ongoing campaign calling for full repeal of Tennessee’s Certificate of Need (CON) laws. The advertisement highlights how the state’s CON laws have cost Tennessee communities additional hospitals and health care services, as well as hundreds of millions in direct economic investment, along with the untold numbers of jobs that would have resulted from such investment. 

“Tennessee’s CON laws have prevented up to 63 additional hospitals from being built across the state, including as many as 25 in rural areas, which desperately need them,” said Jeff Mazzella, President of CFIF, referencing a recent report by the Beacon Center for Tennessee that looked at the impact of the state’s CON laws over the last 20 years. 

Tennessee’s CON laws empower a board of unelected bureaucrats to deny new health care facilities and services across the state, restricting access to the high-quality health care on which Tennesseans depend. In 2021, the state legislature made progress by reforming the state’s CON laws. CFIF is urging the legislature to finish the job and fully repeal the state’s remaining CON requirements.

“A whopping 5.5 million Tennesseans have been denied increased access to health care services and Tennessee’s communities have lost over $700 million dollars in direct investment as a result of the state’s CON laws,” Mazzella continued. “That is unacceptable. It’s time for lawmakers to fully repeal Tennessee’s remaining CON laws once and for all.” 

Click here to watch the ad

Full text of the ad

Tennessee’s Certificate of Need or CON law empowers unelected bureaucrats to deny access to new quality health care choices.

Without it, Tennessee could have had up to 63 more hospitals, with 25 located in rural areas.

Over 5 million Tennesseans have been denied access to new health care services…

…and we’ve lost over $700 million dollars of economic investment.

Lost hospitals. 

Lost health care services. 

Lost jobs.

It’s time to fully repeal the Tennessee CON.

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— Will Kessler, Daily Caller News Foundation
 
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