Opportunity missed in Texas’ payday financing legislation

Opportunity missed in Texas’ payday financing legislation

Rick Perry has two lending that is payday on their desk waiting become signed. These bills are created to protect customers, however in truth, they are doing practically absolutely nothing toward accomplishing this objective.

Proponents regarding the bills have rightly remarked that payday loan providers and automobile name loan providers have operated without significant state legislation in Texas as a result of a loophole that is strange enables them to prepare as Credit Service businesses. These bills, their sponsors argue, bring genuine defenses to Texans utilizing these loans.

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