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Follow on Google News | New Regulations On Title Loans AustinAbout new rules and regulation on title loans in the city of Austin, Texas.
By: eTitleMax The new laws that are being debated in the state house are regulations on the amount of funds that a borrower can receive from a lender, the interest rate on said loans. Our industry is fighting hard to leave the debate on whether or not cities have the right to pass laws against fast-cash lending “They spent a gazillion dollars two years ago trying to undermine regulations for their industry, and the speculation is they’ll spend another gazillion dollars this year,” said Austin City Council Member Bill Spelman. “We are trimming their profit margins a little; it’s better for customers,” Spelman said. Points like these made by Council Member Bill Spelman are the exact reason eTitleMax (http://www.etitlemax.com/ The fact is that around 90% of all borrowers repay their car title loan in a timely fashion and thus avoid incurring reposition. Therefore there is no logical reason for government meddling in the affairs of a fair opportunity for borrowers – many of whom who are economically challenged. End
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