Houston Chronicle Blog: Pay Day Lending – Ending a Vicious Cycle
December 2, 2013
Mayor Parker deserves s a loud round of applause for pushing a Pay Day Lending Ordinance that would curb and regulate predatory lenders in the City of Houston.
Whether you call them alternative financing, title lenders, or pay-day lenders, these businesses often take advantage of the poor and the vulnerable as a way to generate obscene profits off of those who can least afford it. The people who end up using PDLs are working people, senior citizens, and military families. When these people face difficulty meeting their recurring monthly expenses, they turn to PDLs for what they think is simple short-term loan. But they get much, much, more. Read more here.