Payday Lending Clearinghouse Updates
The League’s “Payday Lending Clearinghouse” webpage, available at https://www.tml.org/payday-updates, includes information related to the regulation of payday and auto title lenders. It is updated from time-to-time to reflect recent developments. On September 21, a Travis County Court issued two opinions reversing two City of Austin municipal court orders. The orders concluded that Austin’s payday and auto-title lending ordinance was preempted by state statute. The court held that the city’s ordinance is not preempted by state law because there is a reasonable construction by which the ordinance and state statute governing credit access businesses can both be given effect.