Advocacy Alert: Payday Reform Legislation in Committee This Week


Several good payday lending reform bills have been set for a hearing this week. We are requesting Texas Baptists make plans to testify at the hearings or call committee members voicing their support for these bills.

When calling the Committee members here's a sample script of what you can say when you call.

Hello my name is __________. I would like to register my support of bill numbers ________. I support reforming the payday/auto title industry to ensure fair loan products that allow for borrower and lender success.

  • Call or Testify to members of the Senate Business and Commerce Committee

    Tuesday, April 28
    8:00am

SB 92 by Senator Ellis

This legislation is modeled on the city ordinances passed in 22 cities across Texas, but includes fees in the income limits. These standards would address current market failures by making the loans more affordable and ensuring that payments reduce the loan principal and lead to successful repayment of the loan in a short period of time. This bill encourages price-based competition, and is fair and equitable for consumers.

SB 121 by Senator West

This bill establishes separate, income-based, permissible loan limits for each of the four types of CAB loans. This bill also includes a 36% APR rate cap.

Members of the Senate Business and Commerce Committee:

Chair Kevin Eltife, (512) 463-0101
Brandon Creighton, (512) 463-0104
Rodney Ellis, (512) 463-0113
Donald Huffines, (512) 463-0116
Kel Seliger, (512) 463-0131
Larry Taylor, (512) 463-0111
Kirk Watson, (512) 463-0114
John Whitmire, (512) 463-0115

  • Call or Testify to members of the House Investment and Financial Services Committee

April 29
Wednesday,
8:30am

HB 3047 by Representative Tom Craddick

This bill is modeled after the unified city ordinances adopted by 22 Texas cities. The ordinances do not cap fees, but this bill would include fees in the borrowing limits. It puts into place a simple structure to address the problem of on-going indebtedness too often caused by these loans.

HB 2808 by Representative James White

This bill sets in statute what many municipalities have already implemented and creates a state standard by establishing, separate, income-based , permissible loan limits for each of the four types of CAB loans.

HB 1020 by Representative Helen Giddings

House companion to SB 121 by Senator West

HB 3058 by Representative Helen Giddings

This bill prohibits payday and auto title lenders from filing criminal charges against borrowers for simply cutting off access to their checking accounts.

Members of the House Investments and Financial Services

Chair Tan Parker, (512) 463-0688
Oscar Longoria, (512) 463-0645
Giovanni Capriglione, (512) 463-0690
Dan Flynn, (512) 463-0880
Brooks Landgraf, (512) 463-0546
Joe Pickett, (512) 463-0596
Phil Stephenson, (512) 463-0604