The town of Houston has accompanied a list that is growing of metropolitan areas, big and little, to accept brand brand brand new laws on payday and automobile title loan providers.

The latest laws will require impact July 1 of the following year and need these credit that is so-called companies, or CABs, to join up utilizing the town. The new guidelines will limit just how much an individual can borrow and exactly how often times that loan may be renewed.

The ordinance, approved by City Council on Dec. 18, mirrors legislation adopted formerly in Austin, Dallas, El Paso, San Antonio along with other little towns and cities.

“ we experienced initially 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 greatest option to deliver a very good message into the Texas Legislature,” said Mayor Annise Parker. Read more