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At its meeting two weeks ago, the Dallas City Council passed a resolution urging the state Legislature to crackdown on payday lenders and "to pass any necessary legislation to protect the citizens of the State of Texas who may find themselves with no alternative but to seek the type of short-term, high-interest, unregulated loans offered by credit service organizations." The kind of legislation, say, proposed by state Sen. Royce West, whose SB251 would severely limit the definition of a "credit service organization."
Which is how city council member Jerry Allen found himself yesterday in front of the Senate Committee on Business & Commerce, pleading with the state senators to protect the "long-term financial health of our Dallas citizens."
Keep the Dallas Observer Free... Since we started the Dallas Observer, it has been defined as the free, independent voice of Dallas, and we would like to keep it that way. Offering our readers free access to incisive coverage of local news, food and culture. Producing stories on everything from political scandals to the hottest new bands, with gutsy reporting, stylish writing, and staffers who've won everything from the Society of Professional Journalists' Sigma Delta Chi feature-writing award to the Casey Medal for Meritorious Journalism. But with local journalism's existence under siege and advertising revenue setbacks having a larger impact, it is important now more than ever for us to rally support behind funding our local journalism. You can help by participating in our "I Support" membership program, allowing us to keep covering Dallas with no paywalls.
