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I would ike to inform about payday advances el paso tx

I would ike to inform about payday advances el paso tx

Leaders of EPISO and Border Interfaith leveraged sufficient City Council votes to limit simply how much payday lenders could make down families that are low-income. Lobbyists travelled in from Dallas and Austin to battle this ordinance, but this would not keep carefully the council from heeding the organized voice of families and organizations, and voting 6-1 in help. Bishop Mark Seitz regarding the Catholic Diocese of El Paso supported these efforts to safeguard families from compounding financial obligation and exorbitant charges.

This new payday lending reform in El Paso permits lenders to loan a maximum of 20percent of a borrower’s revenues. Agreements must now be presented within the person’s principal language and short-term loans can’t be rolled over a lot more than three times.

With 160 payday lending facilities in El Paso, leaders are actually working together with the town to examine whether or not to limit what number of payday lenders can put up store in low-income areas.

Oped by St. Jude and EPISO frontrunner Larry Garcia: City Should Keep Rules on Payday, Title Lenders, El Paso Times pdf

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