In a rebuke towards the do-nothing Texas Legislature, Houston took one step toward becoming the 5th major Texas town to pass payday and auto-title loan limitations. Houston Mayor Annise Parker outlined her proposition final week and announced that she’dnвЂ™t dilute the proposed ordinance predicated on industry needs.
вЂњ I had at first favored a Houston-specific measure, but decided that joining along with other Texas metropolitan areas in a united front side with this problem is the better option to deliver a powerful message towards the Texas Legislature,вЂќ she said.
In a town very often rolls over for big company, Parker took a stand that is surprisingly strong the Texas pay day loan industry, which did a lot more than $1 billion in operation when you look at the Houston metro area in 2012 alone. In line with the Houston Chronicle: