Strong Payday Loan Lobby Kills Rules Efforts
- Saturday, May 28, 2011, 7:57
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Payday Loan
Austin, tx – As a past speaker of the Texas House and legislator, nobody knows the strength of higher paid supporters much better than Rep. Tom Craddick.
Thus, because the 82nd Legislature winds lower, Craddick does not wait to state that the strong cash advance loaning lobby harmed laws that would control a business that has avoided state error for over a decade.
Because the old saying goes, state policies can make unusual bedfellows.
Craddick, R-Midland, one of the more powerful legislators – as well as one of the most conventional – in Tx Legislature record, identified himself agreeing with generous co-workers and with an loyality group which has long supervised the lobbying business in Austin.
The payday advance lending lobby, Craddick said, harmed legislation, which includes his House Bill 410, which could have shut a 14-year loophole accountable for the higher rates of interest payday loan lenders demand to behind consumers.
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Sam Williams has written 121 posts on this blog.
