Payday Borrowing


Every session since 2005, when the payday industry found a loophole to escape regulation, numerous bills have been filed to regulate payday lenders and curb excessive interest rates and fees. Every session these bills die under intense lobbying from the payday lending industry. This session a handful of legislators will do battle once again with the industry and its powerful lobbyists.


Number of payday
lenders in Texas


APR Range of what
payday lenders charge on short-term loans

Above 10%

APR What the Texas Constitution considers “usurious”


Annual amount Texans pay in fees, and interest on loans


Average amount repaid in fees and interest on
a $325 loan

Source: Center for Public Policy Priorities