HomeMy WebLinkAboutResolution - 2013-R0147 - Oppose Laws That Would Allow Exploitative Payday Lending Practices - 05/01/2013Resolution No. 2013—RO147
May 1, 2013
Item No. 6.9
RESOLUTION
WHEREAS, certain lending practices have recently proliferated in the City of
Lubbock, Texas, including the offering of certain "payday" loans and other unsecured
installment loans whereby exorbitant interest rates are charged and collected from certain
consumers, in circumvention of the State of Texas consumer protection laws; and
WHEREAS, the City Council of the City of Lubbock, Texas senses from the
citizens of the City a significant concern over what are widely perceived to be patently
exploitative, if not predatory, payday lending practices in the City of Lubbock and
elsewhere in the State of Texas, including practices which may exploit that segment of
our population that is most vulnerable to such practices; and
WHEREAS, the City Council of the City of Lubbock shares these same
significant concerns and wishes to express the collective sentiments of the People of the
City of Lubbock, Texas, that the Texas State Legislature and the Governor of Texas
should not intrude on the City of Lubbock's ability, through local control, to take
appropriate action to prevent further exploitative payday lending practices.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Lubbock,
Texas:
1. THAT the Texas Legislature and the Governor of the State of Texas are hereby
requested to refrain from taking any action in the ongoing Eighty-third regular session of
the Texas Legislature to enact laws that would usurp or otherwise interfere with the City
of Lubbock's authority to prevent, by way of local ordinance, certain exploitative payday
lending practices; and
2. THAT the City Council of the City of Lubbock, Texas authorizes and directs
the City Manager to send an official copy of this resolution to the Governor of the State
of Texas, Lieutenant Governor of the State of Texas, and legislators in whose districts the
City of Lubbock is located.
Passed by the City Council this 1.,,,t- day of May, 2013
GLE IkO TSON, MAYOR
ATTEST:
Rebe a Garza, City Secretary
ms; Payday Lending. Res
04.19.2013