The brand new guidelines from the CFPB will outlaw automobile games as protection on installment loans. By TED CARTER The Mississippi Senate approved installmentloan legislation Wednesday that supporters say creates options for cashstrapped borrowers but has opponents stressing it expands predatory financing. Supporters of legislation authored by Sen. Rita Potts Parks, chairwoman associated with company and Financial Institutions Committee, tout it in an effort to make sure shortterm loans are available following the U.S. customer Financial Protection Bureau enacts sweeping brand new reforms, possibly as soon as this springtime. Whitney Barkley associated with the Center for Responsible Lending said her.