Council watch

Money-changers beware. A proposed ordinance cracking down on predatory lending cleared Council's Governance Committee last week, meaning a full Council could take up the measure as soon as the end of this month.

Championed by downtown Councilman Diego Bernal, the ordinance would cap payday loans at 20 percent the borrower's gross monthly income, while limiting auto-title loans to the lesser of either 3 percent the borrower's gross annual income or 70 percent the vehicle's retail value.

Scroll to read more San Antonio News articles
Join the San Antonio Current Press Club

Local journalism is information. Information is power. And we believe everyone deserves access to accurate independent coverage of their community and state.
Help us keep this coverage going with a one-time donation or an ongoing membership pledge.


Join SA Current Newsletters

Subscribe now to get the latest news delivered right to your inbox.