Results of Statewide Study on Texas Payday & Title Loans

Payday and auto-title loans are widespread in Texas, and it is an issue that all League members need to understand in order to act with one voice in advocating on state laws pertaining to this issue.

Delegates to the LWV-Texas 2014 Convention adopted a statewide study of Payday and Title Loans in Texas. In recent years several organizations have advocated to the Texas Legislature for new regulations to protect hard-working families from getting trapped in a revolving door of debt brought on by payday and auto-title loans.

Though the speakers for the public meeting are not yet finalized, we can announce the date and time. Please mark your calendar for 7:00 pm on Monday, November 16. Watch your email for the names of the speakers

A publication entitled Payday & Title Loans is Texas is available here. It describes the current demand for loans in Texas and the economic impact of these loans on communities. It enumerates how many companies and sites are operating in Texas, and also discloses typical interest rates charged and the usual length of time that it takes to pay loans.

It compares loan products and regulations in Texas to those in other states and explains which Texas organizations or agencies regulate the practices of these lenders. It also asks what the impact would be on consumers of payday and title loans in Texas if such loans were restricted or banned and suggests avenues for reforms.

In order to meet our reporting deadline for consensus on this topic, we have scheduled the consensus meeting for November 23, 7 pm just one week after our informative discussion. This meeting will take place in the Genecov Room.

Payday and auto-title loans are widespread in Texas, and it is an issue that all League members need to understand so we can act with one voice as we advocate on state laws pertaining to this issue.


 

Learn More About Payday & Title Loans

Discussion on Facts about Texas Payday & Title Loans

Monday, November 16, 7 pm  Tyler Public Library            201 S. College

Speakers TBA

Member Consensus: Payday & Title Loans

Monday, November 23, 7 pm Genecov Room at Tyler Area Chamber of Commerce -- 315 North Broadway

Click Here to Read Consensus Questions