15 jan Defense against predators? Amarillo ordinance minimizing ‘abusive’ pay day loans

Defense against predators? Amarillo ordinance minimizing 'abusive' pay day loans

Wednesday

Predators. That is exactly just exactly how Amarillo Mayor Paul Harpole labels some Credit Access organizations, more popularly known as payday loan providers or CABs, that take benefit of area residents.

"They prey from the worries of people that hardly understand credit, they prey in the worries of individuals who don't think their credit can be good as it can certainly be, they prey in the worries of getting to cope with a monetary issue in a timely method - a relative that is sick that they must have cash when it comes to hospital, a general that is in prison plus they desire to assist, a family group situation this is certainly really psychological - they use those feelings and the ones worries which will make these loans," Harpole stated.

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