NBC Amarillo: City council discusses possible ordinance regulating payday loan lenders

July 22, 2014

City council members and residents met to discuss possible new ordinances that would regulate payday and car title loan lenders on Monday.

Payday and car title loan lenders are unsecured, short term loans that usually only requires an ID and checking account.

City Council member Lelia Escajeda said the interest rates are what leads to debt for people who get these loans.  Read more here.