What is the point in having an ordinance and regulations if they are going to be allowed to just transfer the loan to another store? Can they do that?

They r still ripping people off at title max. All they r doing now is transfering all the loans to leon valley and telling customers if they dont transfer they will take their cars.

The only reason anyone takes a payday loan anyway, if the loan's steep terms weren't already an incentive, is because they already screwed up their credit to where no one else will extend credit to them without extreme assurances. If we needed babysitting from the city, they should have placed it farther up the debt spiral, before payday loans are in the picture.

Good to see that the ordinance was passed.

who cares? need a loan, go to a bank or credit union. credit score sucks, fix it. i have no sympathy.

Hopefully these steps will curb the predatory lending a little. I'll believe it when I see it.

Sounds like they really did nothing. How many people realize they charge up to 365% interest. You pay the interest every month. Then to end the payment you must pay all interest and principle. No partial payment on principle. Here is the clincher, they take out a loan with a credit agency and call the 365% a handling fee....In my day loan sharks weren't this bad and it was illegal.