Other urban centers following Dallas’ lead in pay day loan rules

Other urban centers following Dallas’ lead in pay day loan rules

At this time Dallas could be the only Texas town with strict ordinances on zoning and financing practices for payday and automobile title loan companies, but most likely not for very long. Austin’s town council recently consulted community Councilman Jerry Allen to introduce regulations that are similar.

“The knowing of the problem locally and its particular impact actually stumbled on a mind within the year that is last” claims Ann Baddour, senior policy analyst for Austin-based Texas Appleseed, which she defines as “a nonprofit general public interest legislation center” with core tasks, such as for instance advocating for fair economic solutions for low-income communities in Texas. Exactly why it stumbled on mind had been why these kinds of businesses and their methods have now been under much closer scrutiny, she claims.

Catholic Charities, as an example, finished a survey that is statewide of locations that offer cash help.

“Nearly 20 % will probably people that are in payday or vehicle name financial obligation,” Baddour claims, and therefore these are typically “using their funds to pay for straight straight back car name loan providers and visiting Catholic Charities to have utilities compensated.”