Well, the critics of Mississippi House Bill 455 consider that payday loan lenders will be absolutely banned only if the APR will be declined to 36%, though, it seems to be untenable due to the numerous studies.
Actually, payday loans in FL were not created for large purchases, therefore, the amount of money affordable for borrowing is typically around $500 or sometimes even less. This sum is usually enough for putting food on the table or for covering the urgent payments.
Payday lenders are trying to stay in business and overreaching state regulations by means of turning to Indian tribes as they are legally protected by a particular doctrine called sovereign immunity that actually exempts the tribes from some federal and state laws.