Let me tell you about Senate Committee Targets Payday Lending

Let me tell you about Senate Committee Targets Payday Lending

If a few bills filed by Sens. Wendy Davis, D-Fort Worth, and Royce western, D-Dallas, passes this session, clients who eliminate short-term, high-interest loans could be protected from extortionate interest rate expenses.

For Cynthia Reynosa, a $500 advance loan recommended she can help her mom, suffering joint disease rheumatoid, invest her high tax deductible. Nevertheless the interest she paid over the following a few months totaled $1,200 — great deal significantly more than twice simply precisely what she’d lent.

Today»I happened to be thinking i might discover the cash wherever I would personally need certainly to think it is, so she wouldn’t need to suffer anymore,» Reynosa testified throughout a Senate committee hearing.

If a few bills filed by Sens. Wendy Davis, D-Fort Worth, and Royce western, D-Dallas, passes this session, clients like Reynosa whom subscribe to short-term, high-interest loans could be protected. Continue reading “Let me tell you about Senate Committee Targets Payday Lending”