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Houston May Become Fifth Significant Texas City to Crack Down on Payday Advances
In a rebuke towards the do-nothing Texas Legislature, Houston took one step toward becoming the 5th major Texas city to pass payday and loan that is auto-title. Houston Mayor Annise Parker outlined her proposal week that is last announced that she’dnвЂ™t dilute the proposed ordinance predicated on industry needs.
вЂњ we experienced initially favored a Houston-specific measure, but decided that joining along with other Texas metropolitan areas in a united front about this problem is the better method to deliver a solid message into the Texas Legislature,вЂќ she said.
In a city very often rolls over for big business, Parker took a surprisingly strong stand against the Texas cash advance industry, which did a lot more than $1 billion running a business in the Houston metro area in 2012 alone. In accordance with the Houston Chronicle:
She brushed apart issues about welcoming case, saying the town is sued daily, and would not finesse her message to your industry.
вЂњThey have actually stated they are going to go away from town limitations of Houston, and I state: DonвЂ™t allow the home hit you on route out,вЂќ Parker stated.