Dallas Council Urged to Limit Payday Lending Sites


This is old news by now, but I still think it’s important, and I’ve just delayed posting about it. Last month the Dallas City Council was encouraged by representatives from the United Way, the AARP, Friendship West Baptist Church, and CitySquare to limit the expansion of payday lending stores in poor areas of Dallas.

The representatives believe the payday loan companies prey on poor, under-educated citizens by lending them money at outrageous interest rates and by charging high fees. Dallas is home to more than 200 payday-lending or check-cashing stores, with most of them located south of the Trinity River.

Please see full article below for more information.

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Published In: Administrative Agency Updates, Consumer Protection Updates, Finance & Banking Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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