By Maureen Smith JACKSON – Despite opposition from faith leaders and economic advocacy teams, Governor Phil Bryant finalized an expansion of alleged payday lending into legislation on Friday, might 15. The law that is new officially called the “Mississippi Credit Availability Act,” paves the way in which for short-term loan providers to charge up to 297 per cent interest on loans of $500 for six-months and permits for similar rates of interest on 12-month loans of $2,500. Bishop Joseph Kopacz of Jackson and Bishop Roger Morin of Biloxi delivered a letter that is joint the governor opposing the balance. Read more