Bryan-College Station Eagle: Texas politicians file bill to regulate payday, title loans
March 8, 2013
Politicians in Bryan and College Station got their wish Wednesday when a pair of state legislators filed bills to further regulate payday and auto-title loan lenders. Texas Rep. Mike Villarreal, D-San Antonio, teamed up with Sen. John Carona, R-Dallas, to file HB 2706 and SB 1247. The identical bills would place many restrictions upon the largely unregulated quick-loan industry, such as limiting the size of a loan based on a consumers’ income or vehicle value, limiting the number of times a loan can be refinanced and mandating extended payment plan provisions. Read more here at theeagle.com.