Dallas Morning News: Bill Limiting Payday Loans Advances in the Senate, Some Claim it is too Weak
April 4, 2013
A Senate committee endorsed modest restrictions on payday lenders Tuesday, but the proposed law would erase much tougher ordinances already in place in Dallas and four other cities. The bill would limit the types of loans that could be offered and restrict how many times a loan could be rolled over. But it does nothing to cap the sky-high interest and fees borrowers can pay, which religious and consumer groups lamented. Read more here.