Think Progress: Here’s How the Nation’s Two Largest States Plan to Crack Down on Predatory Lending

May 3, 2015

Predatory lenders thrive in Texas, where regulations are scarce on stores that offer payday advance loans and allow borrowers to put their cars up as collateral for high-cost, short-term credit. But a trio of bills being considered in the legislature would update state law to make it harder for desperate borrowers to wind up trapped in endless loan-renewal cycles when they turn to payday and auto title loans.

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