In a rebuke towards 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’dnвЂ™t dilute the proposed ordinance centered on industry needs.
вЂњ we had at first favored a Houston-specific measure, but decided that joining along with other Texas urban centers in a united front side on this problem is the best option to deliver a very good message towards the Texas Legislature,вЂќ she said.
In a town very often rolls over for big company, Parker took a stand that is surprisingly strong the Texas pay day loan industry, which did significantly more than $1 billion in operation into the Houston metro area in 2012 alone. In accordance with the Houston Chronicle:
She brushed apart concerns about welcoming case, saying the town is sued daily, and didn’t finesse her message to your industry.
вЂњThey have actually stated they will certainly go away from town restrictions of Houston, and I also state: DonвЂ™t allow the door hit you along the way out,вЂќ Parker stated. вЂњThis is certainly not about building a profit that is reasonable. Continue reading