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Houston May Become Fifth Significant Texas City to Crack Down on Payday Advances

Houston May Become Fifth Significant Texas City to Crack Down on Payday Advances

In a rebuke into the 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 final week and announced that she’dn’t dilute the proposed ordinance according to industry needs.

“ we experienced at first favored a Houston-specific measure, but decided that joining along with other Texas urban centers in a united front side with this problem is the better method to deliver a good message into the Texas Legislature,” she said.

In a town very often rolls over for big business, Parker took a stand that is surprisingly strong the Texas cash advance industry, which did a lot more than $1 billion in operation within the Houston metro area in 2012 alone. Continue reading Houston May Become Fifth Significant Texas City to Crack Down on Payday Advances