Lawmaker’s businesses accused of overlooking payday financing ordinances

Lawmaker’s businesses accused of overlooking payday financing ordinances

1 of 2 i»?Power money and similar stores, Mayor Annise Parker claims, can victimize individuals without sufficient rules. J. Patric Schneider/Freelance Program Most Program Less

Critics say the practice of rolling over loans can result in fees and interest that drive the effective rate of interest to a few hundred-percent

As an associate associated with the Texas residence of associates, Houston Republican Gary Elkins makes laws and regulations. As a businessman, he is an owner of a chain of payday credit sites implicated of busting them.

Elkins compared payday lending regulations through the 2011 and 2013 legislative meeting, arguing users should defer to his knowledge and phoning the bills a remedy on the lookout for a problem. Continue reading “Lawmaker’s businesses accused of overlooking payday financing ordinances”