Austin Business Journal: Lone Texas Payday Loan Reform Bill Moves Ahead, Rest Stuck in Committee

May 7, 2015

One of the smaller payday lending bills being considered by Texas lawmakers, House Bill 411, has passed out of the House on third reading and is on its way to the Senate.

The bill, authored by Rep. Chris Turner, D-Arlington, would outlaw aggressive unsolicited telemarketing targeted at former payday loan recipients. In other words, it prohibits ambulance chasing for the small loans, which often carry a high interest rate.

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