Mayor Annise Parker on Friday scrapped a compromise want to manage payday and automobile name loan providers in support of more strict restrictions, looking to curtail just exactly what she called a usurious racket that traps borrowers in a cycle of debt.

Parker stated the City Council will vote month that is next the laws, that are modeled on guidelines passed by Dallas, Austin, San Antonio and El Paso, a few of which were sued by payday loan providers. The industry had pledged to not sue if Houston passed a compromise proposition negotiated by City Attorney David Feldman early in the day in 2010. Continuer la lecture de Ditching compromise, Parker pushes tough loan that is payday →