Houston Could Become Fifth Significant Texas City to Crack Down on Pay Day Loans

In a rebuke to your do-nothing Texas Legislature, Houston took one action toward becoming the 5th major Texas town to pass payday and loan that is auto-title. Houston Mayor Annise Parker outlined her proposition week that is last announced that she’dn’t dilute the proposed ordinance predicated on industry needs.

“I had at first favored a Houston-specific measure, but decided that joining along with other Texas towns and cities in a united front side with this problem is the greatest method to deliver a very good message towards the Texas Legislature,” she said.

In a town very frequently rolls over for big company, Parker took a interestingly strong stand against the Texas pay day loan industry, which did more than $1 billion running a business within the Houston metro area in 2012 alone. In line with the Houston Chronicle:

She brushed apart issues about welcoming case, saying the town is sued daily, and failed to finesse her message to your industry.

“They have actually stated they’ll go beyond your town limitations of Houston, and I also state: Don’t allow the home hit you in route out,” Parker said. Continue reading “Houston Could Become Fifth Significant Texas City to Crack Down on Pay Day Loans”