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Judge rejects city’s payday loan provider rules. City Council takes actions toward relief for real time music venues and ‘legacy’ organizations

Judge rejects city’s payday loan provider rules. City Council takes actions toward relief for real time music venues and ‘legacy’ organizations

Austin Municipal Court Judge Ferdinand Clervi struck down a part of Austin’s payday ordinance that is lending March, governing that the ordinance’s limitations on regularity and level of installments are preempted by state legislation.

That ruling impacted two split situations when the town charged the cash shop, which does company underneath the name fast money, and ACSO of Texas, conducting business as Advance America, with breaking exactly the same chapters of the ordinance.

If Clervi’s ruling is finally upheld, it’ll signify Austin, along with other towns which have comparable ordinances in Texas, may no further manage to protect customers into the means that City Council envisioned whenever it enacted the ordinance.