Patricia Kilday Hart reports on a promising movement. No one was particularly surprised a year ago when the Texas Legislature failed – once again – to pass meaningful regulation of the payday and auto title loan industries. After all, the folks who charge triple digit interest on loans to society’s most desperately poor had invested [...]
Posts Tagged ‘Texas Faith for Fair Lending’
Payday lenders face new regulation
New regulations aimed at curbing the excesses of payday lenders are now in effect, but they will not be the last word on the subject. Proponents of the new regulations passed by lawmakers during the 2011 session say they’re needed because the practice of offering short-term, high-interest loans to consumers has led thousands of Texans [...]
Lege gets set to tackle payday lending
The good news is that the Lege is ready to tackle legislation dealing with the scourge of payday lenders. The bad news can be summarized by the following remarks in this Chron story. This week, State Rep. Vicki Truitt, R-Keller, will ask the Texas House to approve a package of three bills written as part [...]
It’s way past time to regulate payday lenders
From the Observer: As an industry, when you’ve got Tom Craddick, consumer groups, the Midland County District Attorney and Bible-quoting Baptists arrayed against you, most likely you’re facing a serious come-to-Jesus moment. Today, a House committee heard hours of impassioned testimony in favor of legislation that would curb Texas’ Wild West payday and auto-title lending [...]