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APR 24, 2013 - Washington Business Journal

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Texas Senate passes controversial payday loan bill

Legislation regarding payday lending in Texas managed to pass favorably off the Senate floor on Monday after heated debate last week indicated it might be in trouble. State Sen. John Carona, R-Dallas, pulled Senate Bill 1247 — which creates a statewide regulatory framework for payday and auto-title lenders and financial institutions that offer short-term loans to low-income borrowers at high interest rates — off the floor April 19 due to concerns fervently voiced by other senators. Carona ended…

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