KUHF News: Payday Lenders In Houston Face Possible Consumer Protection Regulations

December 5, 2013

Payday and auto title lenders are at the center of the latest Houston City Council debate. Mayor Annise Parker wants to regulate the industry — but councilmembers are skeptical.

Nearly a year ago, Mayor Parker announced her intention to regulate the payday lending industry, but waited to see what would happen at the state level.

The legislature failed to pass a bill, so Parker is unveiling her modified proposal that closely mirrors those already in place in Austin, Dallas, San Antonio and El Paso.

“I think the City of Houston, by adopting an ordinance that is similar, in all material aspects, to those in other cities, we send a clear signal to the state legislature and we also establish a platform that we hope that cities across the state adopt.” 
Read more here.