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Bills would undo cities' efforts to rein in payday lenders, advocates warn

Published on April 27, 2017 under CommunityImpact

In dozens of Texas cities, payday lenders face enhanced restrictions on how much they can charge borrowers. Past efforts to translate those individual city ordinances into a statewide policy have failed. This year, some state lawmakers are pushing for the opposite outcome: by passing measures that would either roll back those local ordinances or give payday and auto title lenders the power to take cities to court over ordinances they don’t like. Under either proposal, critics predict Texas would effectively return to a uniform statewide policy that perpetuates a cycle of debt for millions of Texans.Via Texas Tribune

The post Bills would undo cities' efforts to rein in payday lenders, advocates warn appeared first on Community Impact Newspaper.

Source: Community Impact- Round Rock

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