payday lending en Payday Lenders In the Spotlight, As Industry Becomes an Issue in Texas Governor's Race <p><span style="line-height: 1.5;">Signs offering promises of “quick cash” can be seen all over Texas. So-called payday lenders offer short-term loans under $700, but those loans have been criticized for interest rates that can climb to 500 percent.</span></p><p>For some customers, taking one on leaves them in a never-ending cycle of debt. It’s controversial, and the practice is actually banned in 12 states.</p><p>Recently, it’s become an issue in this year’s governor’s race.</p><p>The topic was kicked up after the chairman of the Texas Finance Commission – William White – <a href="">made comments to the El Paso Times</a> suggesting payday lenders should be able to charge whatever fees they want. Previously unheard of, White’s comments put him in the spotlight among payday loan regulation advocates.</p><p><iframe frameborder="no" height="166" scrolling="no" src=";color=ff6600&amp;auto_play=false&amp;show_artwork=false" width="100%"></iframe></p><p> Thu, 16 Jan 2014 21:15:53 +0000 Jackie Wattles 9559 at Payday Lenders In the Spotlight, As Industry Becomes an Issue in Texas Governor's Race Lawsuit Lenders Facing Regulation <p></p><p>Supporters say a new bill&nbsp;in the Texas Legislature would help protect consumers and regulate a quiet but burgeoning industry.</p><p><a href=";QueryText=HB+1595&amp;HighlightType=1">House Bill 1595</a> from Rep. Doug Miller (R-New Braunfels) would regulate the growing industry of lawsuit lending. Lawsuit lending companies provide loans to plaintiffs who need money while waiting on a settlement. But many of these loans come with high interest rates, some as high as 150 percent.</p><p> Mon, 18 Mar 2013 20:40:06 +0000 Bobby Blanchard 6989 at Lawsuit Lenders Facing Regulation Lawmakers to Again Take Aim at Predatory Lending <p></p><p>Legislators this year will once again try to combat some short-term lending practices that critics say prey on poor Texans.</p><p>Credit access businesses, including payday lenders and auto-title loan businesses, have faced criticism for charging massive interest rates to customers seeking loans and no way to help pay them off. Last session, legislators passed a law that allows more oversight and tracking of these businesses, but a bill that would have addressed the so-called cycle of debt did not pass.</p><p> Fri, 18 Jan 2013 18:32:57 +0000 Audrey White, Texas Tribune 6249 at Lawmakers to Again Take Aim at Predatory Lending How to Complain About Payday Lending Problems <p>The City of Austin is encouraging consumers to come to city staff with complaints about payday lenders and auto title lenders.</p><p>It&rsquo;s been almost one year since the Austin City Council <a href="">passed an ordinance</a> that requires lenders to register with the city and to follow restrictions on loan amounts and refinancing.</p><p>&ldquo;Recently, the City of Austin put together a resource &ndash; an informational website &ndash;&nbsp;for both credit access businesses as well as consumers,&rdquo; says city spokesperson Patricia Fraga.</p><p> Wed, 08 Aug 2012 16:12:23 +0000 Wells Dunbar & Laura Rice 4835 at How to Complain About Payday Lending Problems