Tag Archives: payday lenders

Chron overview of HD135

Posted on November 2, 2016 by Charles Kuffner

One more look at a local legislative race. Novice political candidate Jesse A. Ybañez believes his focus on the people of the increasingly diverse Texas House District 135 makes him a better choice than longtime state Rep. Gary Elkins. Ybañez, … Continue reading →

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Appeals court blocks litigation against payday lenders

Posted on August 7, 2016 by Charles Kuffner

Lousy. The Fourth Court of Appeals in San Antonio derailed a class action lawsuit aimed at keeping payday lenders from using the state’s criminal justice system as de facto collection agencies. The suit filed by 1,400 plaintiffs argued that Cash … Continue reading →

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Bring back postal banking

Posted on November 8, 2015 by Charles Kuffner

I still like this idea. Postal unions and civil rights groups are among other advocacy organizations, along with the U.S. Postal Service inspector general, pushing USPS to expand into banking. Sen. Bernie Sanders (I-Vt.), a Democratic presidential hopeful, agrees. But … Continue reading →

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Here come those CFPB payday lending regulations

Posted on February 10, 2015 by Charles Kuffner

An update from the AP. Troubled by consumer complaints and loopholes in state laws, federal regulators are putting together the first rules on payday loans aimed at helping cash-strapped borrowers avoid falling into a cycle of high-rate debt. The Consumer … Continue reading →

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2015 Mayoral manifesto: Quality of life and other issues

Posted on February 6, 2015 by Charles Kuffner

Preliminaries Transportation Public safety A few quick hits on topics that didn’t fit elsewhere. Making Houston affordable again Remember when Houston was an inexpensive place to live? If you haven’t been here at least a decade – more like two … Continue reading →

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Interview with Diego Bernal

Posted on December 29, 2014 by Charles Kuffner

For the second biennium in a row, there are legislative special elections going on during what many of us think of as the Christmas break. That’s not so great for the people involved in those campaigns, since it’s hardly a … Continue reading →

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How much do payday lenders suck?

Posted on December 24, 2014 by Charles Kuffner

This much. Pursuing, or even threatening, criminal charges against payday and title borrowers is strictly prohibited by Texas law, with very few exceptions. The Texas Constitution unequivocally states, “No person shall ever be imprisoned for debt.” But new research released … Continue reading →

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Diego Bernal to run for HD123

Posted on November 17, 2014 by Charles Kuffner

Good. Diego Bernal, a civil rights attorney elected to the District 1 City Council seat in 2011, will leave the office on Tuesday to run in a yet-to-be-called special election for the Texas House of Representatives. “I’m stepping down,” Bernal … Continue reading →

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Gary Elkins thumbs his nose at local payday lending ordinances

Posted on October 23, 2014 by Charles Kuffner

Such a fine example he sets. As a member of the Texas House of Representatives, Houston Republican Gary Elkins helps make laws. As a businessman, he is an owner of a chain of payday lending stores accused of breaking them. … Continue reading →

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More on the Postal Service as financial service provider

Posted on August 10, 2014 by Charles Kuffner

I still think it’s a good idea, and so do a lot of other people. The Postal Banking Consumer Survey [PDF] asked more than 1,600 consumers, many of whom do not have access to traditional banking services, whether or not … Continue reading →

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Wonkblog on Texas cities’ efforts to combat payday lenders

Posted on July 23, 2014 by Charles Kuffner

It’s always nice when the national media notices something positive happening in Texas instead of the usual. Four years ago, ACE Cash Express was the company that turned Dallas Council member Jerry Allen into the payday loan industry’s worst enemy. … Continue reading →

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CFPB makes its presence felt in Texas

Posted on July 13, 2014 by Charles Kuffner

Good for them. Texas-based payday lender ACE Cash Express has agreed to pay $10 million to settle allegations by the federal Consumer Financial Protection Bureau that it used harassment and other illegal tactics to push borrowers into a cycle of … Continue reading →

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Going where the payday lenders are

Posted on July 12, 2014 by Charles Kuffner

The most frequent defense I hear of payday lenders it that there’s a demand for the kind of short-term low-dollar loans that they provide that aren’t provided by other financial institutions, and even if they were those institutions don’t exist … Continue reading →

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Houston’s payday lending ordinance is now in place

Posted on July 6, 2014 by Charles Kuffner

Part of me hopes that there’s a lot of complaints, and part of me hopes there’s very few. Houston’s stringent new rules on payday and auto title lenders took effect Tuesday, reviving industry complaints that it would drive companies out … Continue reading →

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The CFPB is almost ready to roll out payday lending regulations

Posted on April 1, 2014 by Charles Kuffner

I can’t wait to see what they come up with. Whenever governments start thinking about cracking down on small-dollar, high-interest financial products like payday loans and check cashing services, a shrill cry goes up from the businesses that offer them: You’re … Continue reading →

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Another way to squeeze the payday lenders

Posted on February 25, 2014 by Charles Kuffner

I wholeheartedly approve of this. The Postal Service (USPS) could spare the most economically vulnerable Americans from dealing with predatory financial companies under a proposal endorsed over the weekend by Sen. Elizabeth Warren (D-MA). “USPS could partner with banks to … Continue reading →

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Abbott outraises Davis on 30 day report

Posted on February 5, 2014 by Charles Kuffner

Would have been nice to have done better. Republican Attorney General Greg Abbott outraised Democratic state Sen. Wendy Davis by more than 3-to-1 in the first three weeks in January in the race for governor, according to figures reported by … Continue reading →

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How Greg Abbott enabled the payday lenders

Posted on January 8, 2014 by Charles Kuffner

The Lone Star Project kicks it off: Abbott’s Green Light to Predatory Lenders Key AG document provided payday lenders a loophole to bilk Texans Greg Abbott’s office issued the key document that has allowed payday lenders to operate outside of Texas usury … Continue reading →

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The fox has always guarded the henhouse

Posted on January 3, 2014 by Charles Kuffner

News item: Rick Perry appointee says something obnoxious and privileged about the people his company fleeces for his fortune. The official who oversees Texas’ consumer watchdog says payday-loan customers — not the lenders — are responsible when the loans trap … Continue reading →

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Payday lending ordinance passes

Posted on December 19, 2013 by Charles Kuffner

In the end, it wasn’t close. The Houston City Council overwhelmingly passed restrictions on payday and auto title lenders Wednesday, avoiding rumored parliamentary maneuvers to delay the vote and calling on the state Legislature to follow suit. The vote was … Continue reading →

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Enforcing a new payday loan ordinance

Posted on December 18, 2013 by Charles Kuffner

Mayor Parker’s proposed payday lending ordinance will be up before Council today, though it might wind up being delayed until the new Council is sworn in. It’s not clear yet how the vote might go, but in the meantime it’s … Continue reading →

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Runoff 8 Day Finance Reports

Posted on December 12, 2013 by Charles Kuffner

I did not get to looking at the 8 day finance reports for the November election – too many candidates, not enough time. But there was no reason I couldn’t take a gander at the 8 day reports for the … Continue reading →

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Council hears the Mayor’s payday lending ordinance

Posted on December 6, 2013 by Charles Kuffner

Reaction was mixed, though it appears likely there is enough support to pass. The proposed ordinance would limit payday loans to 20 percent of a borrower’s gross monthly income and auto title loans to 3 percent of the borrower’s gross … Continue reading →

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More on the Mayor’s payday lending ordinance

Posted on November 27, 2013 by Charles Kuffner

From the Chron story on Mayor Parker’s proposed payday lending ordinance, which is described as having been toughened up from an earlier proposal: Consumer groups had called [City Attorney David] Feldman’s compromise proposal too weak; he said he preferred tougher … Continue reading →

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The Mayor’s payday lending proposal

Posted on November 23, 2013 by Charles Kuffner

Mayor Parker sure isn’t wasting any time on her last-term agenda. Next up on the list: the payday lending ordinance we’ve been waiting for. With support from other major Texas cities and numerous advocacy groups, Mayor Annise Parker today unveiled … Continue reading →

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What’s on the agenda for Mayor Parker in her third term

Posted on November 7, 2013 by Charles Kuffner

Now that Mayor Parker has been safely re-elected, with a better-than-expected margin, what does she plan to do from here? A triumphant Parker on Tuesday lauded her “decisive” victory but quickly shifted her focus to the coming two years, listing … Continue reading →

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The cities versus the payday lenders

Posted on October 28, 2013 by Charles Kuffner

The Observer writes about representatives from Texas cities getting together to talk about how to fight the scourge of payday lenders. The conference panel on Thursday was an opportunity for city officials from around the state to share advice and … Continue reading →

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One thing Wal-Mart could be good for

Posted on June 29, 2013 by Charles Kuffner

They could wreak havoc on payday lenders. Raj Date says that with modern data analysis banks could offer payday loans on much less extortionate terms. Felix Salmon retorts that banks don’t actually want to do business with poor people unless … Continue reading →

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What we missed by not getting a payday lending bill

Posted on June 16, 2013 by Charles Kuffner

Better Texas Blog reminds us of what could have been SB 1247, the omnibus reform bill filed by Sen. John Carona … included the ability to repay standards, loan limits, and refinance limitations, among numerous other provisions. According to the … Continue reading →

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Less is more, local legislative edition

Posted on June 5, 2013 by Charles Kuffner

Harris County and the city of Houston generally play more defense than offense when the Legislature is in session, so as a rule the fewer bills that get passed that affect them, the better. County and city lobbyists said their … Continue reading →

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Payday lending prospects look grim in the House

Posted on May 2, 2013 by Charles Kuffner

From the Observer: Late into the night on Monday, the payday loan industry strutted its stuff before a very friendly House committee. The hearing came just a week after the Senate passed a surprisingly tough bill that the industry insists … Continue reading →

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Improved payday lending bill passes the Senate

Posted on April 26, 2013 by Charles Kuffner

Good news, if it goes anywhere. The Texas Senate approved a bill to regulate short-term lenders on Monday night, a milestone some thought the chamber wouldn’t reach after a personal and divisive floor fight on Thursday. But with the measure’s … Continue reading →

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Division over the payday loan bill

Posted on April 19, 2013 by Charles Kuffner

Quite a heated little fight in the Senate yesterday. An ugly scene erupted in the Texas Senate today, with Sen. John Carona (R-Dallas) suggesting that some of his Republican colleagues were “shills” for the payday loan industry and worrying that … Continue reading →

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Somewhat improved payday lending bill passes Senate committee

Posted on April 4, 2013 by Charles Kuffner

I still don’t think it’s good enough. Breathing new life into a proposal that was doomed by the opposition of consumer groups only last week, a Texas Senate committee approved strengthened legislation Tuesday that imposes restrictions on the payday loan … Continue reading →

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