The Eagle: College Station City Council joins Bryan in regulation of payday loans

February 28, 2014

The College Station City Council joined Bryan on Thursday in adopting regulations to limit and restrict loans from payday lending businesses.

Texas has no limits on fees or loan sizes, but there has been a recent push statewide to protect consumers from predatory payday lending and auto title loan practices. A legislative effort to tighten restrictions on lenders failed, but since then, major cities including Austin, Houston, Dallas and San Antonio have adopted city ordinances to limit loans. Most recently, Bryan passed the second reading of the same restrictions at its Feb. 4 meeting.

Read more here.