Council passes changes to customer lending policies. Which had implications for the city’s enforcement of the rule regarding credit access companies.

Council passes changes to customer lending policies. Which had implications for the city’s enforcement of the rule regarding credit access companies.

On Thursday, City Council adopted modifications to a city ordinance Registration that is governing of Access companies to make sure that town laws on customer lending additionally connect with credit solution organizations like payday and car name loan providers. The alteration, handed down the permission agenda, creates and adds a credit card applicatoin charge for anyone organizations.

In Texas Attorney General Ken Paxton ruled that state law allows extensions of consumer credit through forms of debt other than payday and motor vehicle title loans, defining those businesses as a subset of credit services organizations november. Continue reading “Council passes changes to customer lending policies. Which had implications for the city’s enforcement of the rule regarding credit access companies.”