Dallas Morning News: Schnurman: Could feds’ fines finally signal reform for payday loans?

July 15, 2014

Last week, the nation’s top consumer watchdog clamped down on Ace Cash Express of Irving, which operates 1,500 payday stores in 36 states. 

If you want to fix something in Texas, go to Washington.

At least that’s the case with payday lending, the practice of luring the working poor into a two-week loan that lasts for five months and costs an arm and a leg.

Read more here.