Houston May Become Fifth Significant Texas City to Crack Down on Payday Advances

Houston May Become Fifth Significant Texas City to Crack Down on Payday Advances

In a rebuke towards the do-nothing Texas Legislature, Houston took one step toward becoming the 5th major Texas town to pass payday and auto-title loan limitations. Houston Mayor Annise Parker outlined her proposition final week and announced that she’dn’t dilute the proposed ordinance centered on industry demands.

“ we had at first favored a Houston-specific measure, but decided that joining along with other Texas urban centers in a united front side about this problem is the better solution to deliver a stronger message to your Texas Legislature,” she said.

In a town very often rolls over for big company, Parker took a interestingly strong stand against the Texas cash advance industry, which did significantly more than $1 billion running a business into the Houston metro area in 2012 alone. In line with the Houston Chronicle:

She brushed apart issues about welcoming case, saying the city is sued daily, and would not finesse her message towards the industry.

“They have actually stated they’ll go away from town restrictions of Houston, and I also state: Don’t allow home hit you on route out,” Parker said. (más…)

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