A Typical Texas Payday Loan City Ordinace
ORDINANCE NO. 16-3183
AN ORDINANCE OF THE CITY OF BEDFORD, TEXAS SETTING FORTH REGISTRATION
REQUIRMENTS AND CREDIT EXTENSION GUIDELINES FOR CREDIT ACCESS BUSINESSES;
CONTAINING A SAVINGS CLAUSE; PROVIDING A PENALTY CLAUSE; AND PROVIDING AN
EFFECTIVE DATE.
WHEREAS, the City of Bedford, Texas is a home rule city acting under its Charter adopted by the
electorate pursuant to Article XI, Section 5 of the Texas Constitution and Chapter 9 of the Local
Government Code; and,
WHEREAS, the City of Bedford, Texas contains credit access businesses, which provide payday
loans and advances to consumers who work and reside within the City; and,
WHEREAS, the City Council of the City of Bedford has determined that certain credit access
businesses engage in abusive and predatory lending practices, offering easy money to those
members of our community who are in a tight spot with onerous terms and fees; and,
WHEREAS, the practices of certain credit access businesses cause members of our community to
become trapped in a cycle of short term, high interest loans resulting in large debt and huge
payments; and,Continue Reading..
