Leaders of EPISO and Border Interfaith leveraged sufficient City Council votes to limit just how much payday lenders could make down families that are low-income. Lobbyists travelled in from Dallas and Austin to fight this ordinance, but this failed to keep consitently the council from heeding the arranged sound of families and organizations, and 6-1 that is voting help. Bishop Mark Seitz regarding the Catholic Diocese of El Paso supported these efforts to guard families from compounding debt and fees that are excessive.

This new payday lending reform in El Paso permits lenders to loan a maximum of 20percent of a borrower’s revenues. Agreements must now be presented into the person’s principal language and short-term loans may not be rolled over more than three times.

With 160 lending that is payday in El Paso, leaders are now actually working together with the town to look at whether or not to limit just how many payday loan providers can put up store in low-income areas.

Oped by St. Jude and EPISO frontrunner Larry Garcia: City Should Keep guidelines on Payday, Title Lenders, El Paso Times pdf

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West / Southwest IAF Companies

• Arizona
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  • L . A ., Ca: ONE Los Angeles — IAF
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