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

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

In a rebuke to your 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 week that is last announced that she’dn’t dilute the proposed ordinance predicated on industry needs.

“ we experienced at first favored a Houston-specific measure, but decided that joining along with other Texas towns in a united front side about this problem is the better method to deliver a solid message into the Texas Legislature,” she said.

In a town very often rolls over for big company, Parker took a interestingly strong stand against the Texas pay day loan industry, which did a lot more than $1 billion in operation into the Houston metro area in 2012 alone. (more…)