Texans for Public Justice: Payday – Funded Pols Push Tepid Loan Reforms
March 18, 2013
Advocates trying to reform Texas’ runaway predatory lenders have been hamstrung by the awkward degree to which this industry finances political campaigns. Loan sharks have invested almost $4 million in Texas’ past two elections. Public officials recently doubled their industry indebtedness, jumping from $1.1 million in 2008 to $2.3 million in 2012. During that period, out-of-state predatory lenders ramped up their share of the industry’s Texas campaign expenditures to 27 percent. Read more here.