In a last-ditch effort to salvage payday loan reform, Rep. Mike Villarreal called on a recalcitrant Texas House committee to send legislation to the House.
Tag Archives: payday loans
Industry insiders milled about the meeting late last night and it appeared that only Rep. Mike Villarreal, author of the bill, appeared to be the only member in favor of cracking down on payday establishment.
Late into the night, 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 would shut down most of Texas’ 3,400 payday and auto-title storefronts. Even though the legislation aired last night is a faint shadow the Senate bill, it got a rough treatment from six of the seven committee members.
Texas Observer Staff Writer Forrest Wilder hosted a public panel on reforming Texas’ payday loan industry.
The Lead: There aren’t many consumer victories at the Texas Capitol, but Monday’s debate on payday loan reform was certainly one of them. After [...]