Lobby Watch: Politicians Cower in Payday Loan Pockets
May 20, 2015
Predatory Lenders who use paychecks or car titles to secure high-cost loans to the working poor again stuffed Texas politicians in their back pockets after spending almost $2.5 million on the last election.
Lawmakers introduced at least eight predatory lending bills this session. Several of them coddle a rapacious industry. Mean while legislators relegated six of the eight bills to a House committee that acts as a death chamber for payday loan reform. Only one of the bills in the Senate survived committee deliberations.