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Let me make it clear about Ditching compromise, Parker pushes tough loan that is payday

Mayor Annise Parker on Friday scrapped a compromise want to manage payday and automobile name lenders in support of more strict restrictions, aiming to curtail just what she called a racket that is usurious traps borrowers in a period of financial obligation.

Parker stated the City Council will vote the following month on the laws, that are modeled on guidelines passed away by Dallas, Austin, San Antonio and El Paso, a number of that have been sued by payday loan providers. Continue reading