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El Paso City Council approves limits on payday lenders

El Paso City Council approves limits on payday lenders

POSTED: Tuesday, January 7, 2014 - 11:08am

UPDATED: Tuesday, January 7, 2014 - 7:54pm

Council to decide on permits, zones & interest rate limits

El Paso City Council approved an ordinance placing limits on payday and title loan lenders.

On a 6 to 1 vote, with City Representative Larry Romero voting no, the council now moves to decide on special use permits, zoning districts and interest rate limits for all types of Credit Access Businesses.

NewsChannel 9's Monica Cortez is at City Council now, look for updates to this story as details emerge and a full wrap up during our newscasts at 5,6 and 10 p.m.

To read our previous story on payday / title loan lenders, click HERE

EDITOR'S NOTE: An earlier version of this story stated City Rep. Emma Acosta had voted 'no.' This was incorrect and the story has been changed to reflect the correct information.

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