But lawmakers conceded that any attempts at reform face an uphill battle in the Legislature—where the measure has failed before—because of the industry’s clout and heavy spending on lobby efforts. There’s also huge reluctance among the GOP majority to impose greater restrictions on business.
“People need help and these people who need help are being beat down in Texas and being charged larger rates because of fees that should be fixed,” said veteran Rep. Tom Craddick, R-Midland.
In absence of state action, 22 Texas cities have approved local ordinances to regulate the industry within city limits. And some lawmakers want to see such rules applied across the state.
In 2013, the Senate approved regulations but, amid tremendous spending by industry, the measure was bottled up in the House. A handful of lawmakers are again taking on lenders with measures including limits to the number of times a loan can be rolled over and stricter consumer protection language.
