Councilman Chadis trying to manage lenders that are payday

Councilman Juan Chadis thinks short-term loan providers are preying on Lubbock's many vulnerable residents, so he's gearing up to introduce an ordinance geared towards managing the industry in Lubbock. Chadis is hoping Lubbock joins the almost 40 towns throughout the declare that curently have a standard ordinance to lessen the "abusive and predatory financing methods" of short-term lenders referred to as payday or automobile name loan providers. These loan providers typically provide tiny loans at…

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