The diocese was urging Fort value to limit in which payday lenders can open, as Arlington did

The diocese was urging Fort value to limit in which payday lenders can open, as Arlington did

Former Arlington Councilmember Shari Capehart strongly recommended for the ordinances. She was concerned with balancing the need to manage a without pressing from companies from community completely.

a€?We were not contemplating not having them,a€? she said. a€?You should not painting people with similar clean.a€?

Very first, Arlington divided the wide category of financial institutions to demonstrably determine what are banking companies, and preciselywhat are a€?alternative financial institutionsa€? like payday lenders and vehicles title loan providers

Instead, the council crafted a regulation, using the product regulation from the Texas Municipal group, to control the advantage lenders bring over borrowers.

After regulation passed 9-0, Arlington turned the most important town in Tarrant district to pass through limits restricting these kinds of loan providers. (more…)

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