Houston May Become Fifth Significant Texas City to Crack Down on Pay Day Loans

Houston May Become Fifth Significant Texas City to Crack Down on Pay Day Loans

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 according to industry needs.

“ we had at first favored a Houston-specific measure, but decided that joining along with other Texas towns and cities in a united front side about this issue is the greatest solution to deliver a stronger message towards the Texas Legislature,” she said.

In a town very often rolls over for big company, Parker took a interestingly strong stand against the Texas cash advance industry, which did significantly more than $1 billion running a business into the Houston metro area in 2012 alone. In accordance with the Houston Chronicle:

She brushed apart issues about welcoming case, saying the populous town is sued daily, and failed to finesse her message into the industry. […]