Please note: Opinion summaries are prepared by the Office of Public Information for the general public bank rakyat personal loan kerajaan news media. Opinion summaries are not prepared for every opinion, but only for noteworthy cases. Opinion summaries are not to be considered as official headnotes or syllabi of court opinions.
The full text of this and other court opinions are available online. Texas Is Throwing People In Jail For Failing To Pay Back Predatory Loans. At least six people have been jailed in Texas over the past two years for owing money on payday loans, according to a damning new analysis of public court records.
The economic advocacy group Texas Appleseed found that more than 1,500 debtors have been hit with criminal charges in the state -- even though Texas enacted a law in 2012 explicitly prohibiting lenders from using criminal charges to collect debts.
According to Appleseed's review, 1,576 criminal complaints were issued against debtors in eight Texas counties between 2012 and 2014. These complaints were often filed by courts with minimal review and based solely on the payday lender's word and frequently flimsy evidence. As a result, borrowers have been forced to repay at least 166,000, the group found.
But the loan here was not an STLA loan; it is undisputed that the STLA would not permit the subject loan, because its terms contravene the STLAs requirements regarding the loan term, interest, and fees. Because [the lender] did not issue a loan made pursuant to [the STLA], the loan does not qualify as a short-term loan subject to the requirements of the STLA.
Nothing in the STLA limits the authority of MLA registrants to make MLA loans. Bank rakyat personal loan kerajaan Frenchs opinion was joined by all of the justices.
Justices Paul E. Pfeifer also wrote a concurring opinion. In his concurrence, Justice Pfeifer commented: Payday lending was a scourge. It had to be eliminated or at least controlled.
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