Categories
My Pay Day Loan.Com

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

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

In a rebuke towards the do-nothing Texas Legislature, Houston took a action toward becoming the 5th major Texas city 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 needs.

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

In a town very frequently rolls over for big company, Parker took a stand that is surprisingly strong the Texas pay day loan industry, which did more than $1 billion in operation into the Houston metro area in 2012 alone. In line with the Houston Chronicle:

She brushed apart issues about welcoming case, saying the populous town is sued daily, and would not finesse her message to your industry.

“They have actually stated they’ll go outside of the town limitations of Houston, and I also state: Don’t allow the home hit you on your way out,” Parker said.