What You Can Do to End Unfair Lending

Here are eight things you can do to help change payday lending laws in Texas:

1) Sign the online petition to end payday lending;

Petition Supporting Fair Lending in Texas

I support fair lending laws for all Texans. I encourage the Texas Legislature to close the “CSO loophole.” Payday and auto title lenders should operate as licensed lenders in the state of Texas and comply with existing rate and fee caps for consumer loans. The CSO loophole is being exploited by lenders who charge customers usurious rates, often in excess of 500% APR. These predatory loan operators entice desperate customers with the promise of “easy credit” only to pull them into a cycle of debt that drains money away from basic family necessities and from the local economy.

Texas faith communities are front-line witnesses to the pain and suffering caused by such financial ruin, and it is to our ministries that those in debt often look for aid. Loans, made without regard for the ability of the borrower to pay them back, are detrimental to the financial well-being of people in need of short term financial help. The state should be encouraging sound financial practices and should not stand by while some skirt the law and take advantage of people in need. Fair lending laws are good for all Texans.       

2) Do you have a complaint against a payday lender?

File a complaint with the Office of Consumer Credit Commissioner (OCCC)

File a complaint with the Consumer Financial Protection Bureau (CFPB)

3) Write or call your legislators and encourage them to end the current unfair loan business.

Find out who represents you and get their address and phone number 

4) Encourage other individuals, congregations, and groups to join this effort.

Ask you friends and neighbors to visit this website.

5) Educate yourself.

Learn more about payday lending in Texas at the website 500% Interest is Wrong.

6) Examine your own finances.

Do your banks and credit unions offer fair, short-term loans that are acceptable alternatives to current payday loans?   Are your investments in companies that support the current bad process?

7) Have your organization, congregation, or company sign our Faith for Fair Lending Resolution (.doc).

8) Distribute and collect postcards asking legislators to close the loophole! Request a postcard kit here.