AUSTIN вЂ” a selection of customer, civic and spiritual businesses are urging key home and Senate committees this week to comprehensively target abusive lending techniques by payday and automobile name loan providers that cost Texas customers a believed $1.4 billion yearly in costs.
Today, the House Investments and Financial solutions Committee will hear a slew of payday and car title lending bills, including two measures supported by the partner companies that monitor car title loans the unified town ordinances currently used by 22 Texas urban centers. The hearing shall be held in Room E2.028 of this Texas Capitol Extension.
вЂњItвЂ™s high time for the Legislature to extend to all the Texas families the same debtor protections that one-third of Texans currently enjoy,вЂќ said Bob Jackson, AARP Texas State Director. вЂњThe measures we help strike a fair stability between protecting customers and preserving sufficient usage of credit, and build upon the effective history of the municipal ordinances currently set up.вЂќ