Tuesday, March 15, 2011

Dallas' City Council Urged to Take Further Action on Payday Lenders

City Square and the other organizations in Dallas working on the regulation of the pay day loan industry (including the United Way of Greater Dallas, Jewish Community Relations Council, AARP, the Urban League, among many others), are proud to have the support of Dallas City Council representative from District 10, Jerry Allen. Councilman Allen spearheaded the effort to get unanimous approval of council resolution to the Texas State Legislature to pass legislation that will close the loophole allowing these businesses to operate as credit service organizations (CSO's).

He also joined Pastor Frederick Haynes in Austin, Texas to testify in Senate hearings to the importance of this regulation to protect the economic viability of families who, while needing short term help, find themselves trapped in a cycle of long term debt because of these businesses.



Allen's Budget, Finance and Audit committee, however, balked on recommending a zoning ordinance to the full city council for their consideration until after the state legislature decides to take action (or not). We are hoping to show Councilman Allen the urgency of the city of Dallas taking this critical action and do so now!

State Representative Eric Johnson and Senator Royce West (seen in the video) also are urging the council to take further action. 

If you agree, we encourage you to contact Councilman Allen and let him know of your support for this effort.

It's time to stop allowing exploitation to masquerade as business!

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By the way - this is CTW's 1000th post! Thanks to everyone who reads, replies, follows and refers this blog! It's been a pleasure. Now...on to 2000!

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