Bills would undo towns and cities’ efforts to rein in payday loan providers, advocates warn

Bills would undo towns and cities’ efforts to rein in payday loan providers, advocates warn

Lots of Texas metropolitan areas have actually passed ordinances regulating payday and car name loan providers being stricter than ongoing state and federal guidelines. Some state lawmakers are hoping to eradicate them.

In a large number of Texas urban centers, payday lenders face improved limitations how much they are able to charge borrowers. Last efforts to convert those city that is individual in to a statewide policy have unsuccessful.

This year, some state lawmakers are pressing when it comes to other result: by moving measures that would either move straight right straight back those regional ordinances or offer payday and automobile title loan providers the energy to just just take towns to court over ordinances they do not like. Read more