Lubbock one of the Texas locations considering rules getting payday loans

Lubbock one of the Texas locations considering rules getting payday loans

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AUSTIN – The fresh new few days before Xmas new Houston Urban area Council voted overwhelmingly so you’re able to manage the brand new thus-entitled payday and vehicles label loan providers, new largely unregulated business experts name predatory whilst tend to fees rates of interest away from five hundred per cent or maybe more if the individuals you should never pay back the short-identity money promptly.

Lubbock’s town leadership are actually looking for a way to perform some exact same.

Brand new resolution to create a role push approaching pay check lending possess come defer for some months, however, Lubbock Urban area Councilman Todd Klein dreams brand new council will require step on it at the the fulfilling Thursday. Continue reading “Lubbock one of the Texas locations considering rules getting payday loans”