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Ditching compromise, Parker pushes tough cash advance regulations

Ditching compromise, Parker pushes tough cash advance regulations Mayor Annise Parker on Friday scrapped a compromise want to regulate payday and automobile name loan providers in support of more strict restrictions, looking to curtail exactly what she called a usurious racket that traps borrowers in a period of financial obligation. Parker said the City Council will vote month that is next the laws, that are modeled on rules passed away by Dallas, Austin, San Antonio and El Paso, several of which were sued by payday loan providers. The industry had pledged to not ever su

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