Bob Jackson, AARP Texas director, issued this statement today in support of the City of Houston's proposed payday lending ordinance:
We applaud Mayor Parker today for her leadership in working to protect the citizens of the nation's fourth largest city from predatory lending practices. With the adoption of this ordinance, Houston becomes a leader in fighting abusive practices that trap good people into a cycle of debt. Fair lending is key to the economic well-being of communities and to the financial security of everyday Texans. It's a top priority for AARP. By adopting this ordinance, Houston can send a powerful message to the State Legislature that it can't afford to delay making this relief available to all the citizens of Texas.