Archive of ‘Payday Loans On’ category

Editorial: Statewide payday reforms that are lending

The Fort Worth City Council took one step into the right way in voting to rein in payday loan providers.

The other day, on a vote that is 5-3 control the predatory lending company, Fort Worth became the most recent major town when you look at the state to look at this type of measure. It joins almost 70 other Texas urban centers which have enacted some sort of legislation for short-term loans in the past ten years.

This will deliver a clear message to lawmakers that statewide legislation with this problem is required. In the end, Republicans usually complain about patchwork laws, but those laws frequently arise because of state inaction on key dilemmas. The heavy-lifting on this will not sleep entirely from the arms of specific municipalities. Residents throughout the state, in towns and towns and cities little and large, deserve equal defenses.

Pleas from residents teams, faith-based organizations, the Texas Municipal League and AARP getting the Texas Legislature to manage the industry have actually just about been ignored.

Lawmakers over and over repeatedly demonstrate deficiencies in governmental fortitude in the problem, which means an unwillingness to not in favor of a business with deep pockets that contributes generously to governmental campaigns. (more…)