Amarillo News 10: Amarillo City Council talking about regulating payday lending

July 9, 2014

According to some of our city council members, payday lending is a problem in our area.

That’s why they’ve decided to start discussing some ways to regulate it.

City Council Member, Lilia Escajeda says it is not hard to spot payday lending services in Amarillo. “They’re virtually everywhere,” said Escajeda.

And many might think payday lending is the way to go because these loans are fast and don’t require a credit check, but these loans can put people in more trouble. “In Texas, we have the highest payday lending rate of all the states that allow payday lending,” said Escajeda.  Read more here.