Comment on Two Largest States Consider Payday Lending Crackdown

Two Largest States Consider Payday Lending Crackdown

CREDIT: AP Predatory lenders thrive in Texas, where regulations are scarce on stores that offer payday advance loans and allow borrowers to put their cars up as collateral for high-cost, short-term credit. But a trio of bills being considered in the legislature would update state law to make it harder for desperate borrowers to wind up trapped in endless loan-renewal cycles when they turn to payday and auto title loans.

 

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