Heads-Up: Texas CSO/CAB SB1247 Update

By | Mar 19, 2013

From Michael Brown at:
Michael@CreditAccessBusiness.com

Hello All – today I testified at the Senate Business
& Commerce Committee Hearing.  I was able to speak for 3 minutes and did an
adequate job of identifying the biggest issues for our group.  As a follow up to
my comments, please call the Senators offices listed below and leave them this
message.  If you are comfortable please provide your information in the email
and voice mail.

(Note: Receive personal updates from Michael here: )
( http://www.creditaccessbusiness.com/newsletter/ )

Hello Senator xxxxx

I am a smaller licensed CAB
owner, and I am calling to submit my comments on “SB 1247”.  The small to
mid-size CABs are willing to support many of the new rules proposed in the bill,
however, the “only one loan” rule would be catastrophic for our segment of the
industry.

Senate Bill 1247 will result in a drastic decrease in fee
revenue for my business.  In other states where this rule was imposed it
decreased fee income nearly 50%.

Small business owners will suffer most
if this bill passes as-is and this is why we have no choice but to oppose the
bill.  Please know that stores will close, and Texans will lose their jobs due
to the “only one loan” rule.  After the locations close and access to our
face-to-face loan services become restricted, consumers will simply turn to the
internet to get the loan they need.

I respect our customers and provide
fair services when they need it most – please let me continue to compete for
those customers.  Thank you for listening to our industry’s position and we look
forward to submitting further comments as bill revisions are
considered.

Please email me or call me at xxx-xxx-xxxx if you have any
questions.

We need your help,
Xxxxxxxx
xxxxxxx
Xxx-xxx-xxxx

Senators:
John
Whitmire
512-463-0115
john.whitmire@senate.state.tx.us
lara.wendler@senate.state.tx.us

Leticia
Van de Putte
512-463-0126
leticia.vandeputte@senate.state.tx.us
gilbert.loredo@senate.state.tx.us

Kirk
Watson
512-463-0114
kirk.watson@senate.state.tx.us
sarah.howard@senate.state.tx.us

Eddie
Lucio
512-463-0127
eddie.lucio@senate.state.tx.us
louie.sanchez@senate.state.tx.us

John
Carona
512-463-0116
john.carona@senate.state.tx.us
barbara.salyers@senate.state.tx.us

Craig
Estes
512-463-0130
john.carona@senate.state.tx.us
noe.barrios@senate.state.tx.us

Kevin
Eltife
512-463-0101
kevin.eltife@senate.state.tx.us
cheryl.vanek@senate.state.tx.us

Larry
Taylor
512-463-0111
larry.taylor@senate.state.tx.us
cari.christman@senate.state.tx.us

Kelly
Hancock
512-463-0109
kelly.hancock@senate.state.tx.us
mia.mccord@senate.state.tx.us

Michael Brown 214.293.8676 Michael@CreditAccessBusiness.com

Share
5 Comments so far
  1. Martin March 19, 2013 12:13 pm

    Thank you very much for this info and the ease with which we can contact our Texas state regulators! This tactic is KEY!!!!!!!!!

  2. Frank M. March 19, 2013 2:21 pm

    Finally someone is making it easy for those of us with a vested interest in the Texas payday loan industry to contact our legistors. CRL does this VERY WELL! Bad for us… good for them.

    Thank you, Michael!

  3. Payday Loan Industry March 19, 2013 2:22 pm

    You’re absolutely correct, Frank! OLA, FISCA, CFSA and the locals need to work on this.

    Jer – Trihouse

  4. sergio March 19, 2013 4:00 pm

    let’s call

  5. Payday Loan Industry March 19, 2013 4:15 pm

    702-208-6736

Leave a Comment

If you would like to make a comment, please fill out the form below.

Name (required)

Email (required)

Website

Comments

What is 15 + 6 ?
Please leave these two fields as-is:
IMPORTANT! To be able to proceed, you need to solve the following simple math (so we know that you are a human) :-)
© 2009-2019... Payday & Title Lending, - Payday Loan Biz Resources & Courses How to Start Title Loan Business Website Legal Terms Disclosure
Share
Share