A 2019 legal opinion by Texas Attorney General Ken Paxton enabling payday loan companies to charge sky-high interest rates came after he raked in major campaign contributions from the industry, documents obtained by the Current show. Paxton’s ruling has been widely criticized by consumer groups, who argue it opened up a loophole in state law […]
Posted inTexas News
Ken Paxton created loophole for Texas payday lenders while raking in big donations from the industry
Documents obtained by the Current show the Texas attorney general let payday lenders boost rates with unregulated products around the same time the industry pumped $34,000 into his campaign coffers.