Austin American-Statesman: “Closing ranks to close loophole”

February 1, 2011

Excerpt: “It should be illegal for lenders to collect annual interest rates of 500 percent or more on loans made to consumers. But payday lenders in Texas are exploiting a loophole that has sent interest rates on some loans soaring. If state Reps. Tom Craddick, R-Midland, and Eddie Rodriguez, D-Austin, get their way during this legislative session and we hope they do it would be illegal to exploit those loopholes…” Read more on the Austin American-Statesman site >>