In Dallas and San Antonio, a payday loan business owned by state Rep. Gary Elkins faces criminal prosecutions for allegedly violating city ordinances.
Tag Archives: payday loans
A new report finds that Texas payday lenders are making fewer loans but raking in even more in fees, about $1.4 billion in 2013.
Not content to employ an army of former lawmakers and staffers, payday lenders are upset that
“special interests” are saying mean things about them.
Maurice Chammah joins us to discuss his recent cover story, “The Mystery of the San Antonio Four.”
Texas Finance Commission Chairman William White and his company, Cash America, have been intimately involved in trying to undermine the efforts of Texas’ big cities to regulate payday and auto-title loans at the municipal level, documents show.
Today, the Houston City Council voted 15-2 to join every other major Texas city except one (hello, Fort Worth) in regulating payday loan companies.
Mayor Annise Parker took a step toward making Houston the fifth major Texas city to pass restrictions on payday loans.
Three months after an Observer investigation exposed how some payday loan companies are aggressively pursuing criminal charges against their customers, the state body that oversees the industry has issued an advisory telling companies to stop the practice.
At the Texas Municipal League’s annual convention in Austin on Thursday, city officials from across the state gathered to encourage each other to pass regulations on payday and auto-title lending, an unregulated sector many consider usurious, if not predatory, and to discuss ways to defend against the industry’s lawsuits.
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.