The coalition of cities standing firm against abuse payday lending practices continues to grow. As important, the courts are backing local regulations to control payday lending. On Friday, an appeals court upheld the authority of Dallas’ landmark rules restricting certain payday operations and practices.
All I can say is great news. As I mentionedin this blog item last week, payday lending traps borrowers in a net of escalating, unrepayable debt — the sort that works against any opportunity a family might have to get on sound, long term financial footing.