Bellaire has joined a growing amount of texas urban centers enacting laws for payday lenders.
The previous two sessions, Bellaire has followed Houston, Dallas, Austin, San Antonio, El Paso, and smaller metropolitan areas such as for instance neighboring West University Put in using its very own actions to modify lenders, known as “credit access companies. in the lack of state legislative action”
But a Corpus Christi consultant to pay day loan companies stated legislation of the businesses should lie using the state, not towns. He stated the municipal regulations hurt businesses that supply a needed solution.
Mandy Nathan ended up being one of the very first sounds on Bellaire’s City Council to phone to use it.
“I do not have any personal or professional experience with the cash advance industry or any one of its consumers,” she stated.
“However, we preferred Bellaire adopting an ordinance much like that adopted by Houston both because we did not need Bellaire to be a secure haven for payday loan providers seeking to relocate outside of Houston’s regulatory reach. Continue reading