An auto-title-loan store in Arlington.
Fort Worth Star-Telegram
An ordinance designed to restrict community funding company dominated discussion during Thursday’s City Council conference, with representatives of the businesses protecting whatever they supply as necessary to the working bad in the area.
Modeled for a variation provided by the Texas Municipal League, the ordinance being crafted by town appropriate staff sets limits on вЂњcredit access organizations.вЂќ The ordinance specially addresses loan terms, for example the amount of the home loan and just how many times it could possibly be refinanced.
No action was indeed taken evening, however the council could work at its Jan. 28 conference thursday.
District 4 Councilwoman Kristen Ishihara described payday funding and car title loan providers as вЂњpredatoryвЂќ and perpetuating a vicious amount of poverty that victimizes residents in severe need that is economic. Read more