Austin Municipal Court Judge Ferdinand Clervi struck straight straight down a part of Austin’s payday lending ordinance in March, governing that the ordinance’s restrictions on regularity and level of payments are preempted by state legislation.
That ruling impacted two split instances when the city charged the income shop, which does company underneath the name fast money, and ACSO of Texas, conducting business as Advance America, with breaking equivalent chapters of the ordinance.
If Clervi’s ruling is fundamentally upheld, it will probably imply that Austin, as well as other metropolitan areas which have similar ordinances in Texas, may no further have the ability to protect consumers within the real method that City Council envisioned whenever it enacted the ordinance. Read More