MOBILE, Ala. (March 28, 2017) – State Rep. Chris Pringle of Mobile today received the Business Champion Award for sponsorship and support of legislation to regulate consumer lawsuit lending practices.
In the 2016 legislative session, Rep. Pringle sponsored HB 395, the Consumer Lawsuit Lending Act, which passed the House by a vote of 86-6. This legislation is supported by the Business Council of Alabama and the U.S. Chamber of Commerce and has passed the House two years in a row only to be stifled in the Senate by a few senators.
Presenting the award to Rep. Pringle were BCA President and CEO William J. Canary and Mobile Chamber of Commerce President and CEO Bill Sisson, who is chairman of the Chamber of Commerce Association of Alabama.
“Rep. Pringle has a long been on the front lines as a fierce advocate for pro-business legislation,” Canary said. “We need more men and women in public office like him that truly understand what it means to be a job creator.”
“We’re proud of Rep. Pringle’s recognition by the BCA and CCAA,” Sisson said. “It’s a well-deserved honor, and the Mobile Area Chamber appreciates his continued support of our organization and our pro-business legislative agenda.”
Consumer lawsuit lending is the unregulated practice of loaning money at exorbitant interest rates to plaintiffs who must repay lenders if any settlement or judgment is received. The interest rate can exceed 100 percent.
This practice targets a vulnerable population, introduces third-party interests into the attorney-client relationship, and both slows the pace of and increases the cost of litigation for plaintiffs and defendants.
Rep. Pringle served in the House in District 101 from 1994 to 2002 and was elected again on Nov. 4, 2014.
He is a 1984 graduate of the University of Alabama with a B.A. in Communications. Rep. Pringle is a licensed Realtor and is a licensed home building and general contractor as well as a certified control burn specialist.
The Business Champion Award recognizes legislators for sponsorship and support of policies that better Alabama’s business climate and the lives of employees, families, and citizens.
The BCA is a statewide advocacy association representing the interests and concerns of nearly 1 million working Alabamians through its member companies and its partnership with the Chamber of Commerce Association of Alabama. The BCA is Alabama’s exclusive affiliate to the U.S. Chamber of Commerce and the National Association of Manufacturers.