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Thousands Lose Cars Amid Calls for Loan Restrictions

State leaders in business-friendly Texas have been reluctant to put new limits on any industry, and a lack of regulation is being acutely felt by the low-income borrowers to whom the payday and auto-title lending industry most often caters. Nationally, the average payday loan consumer earns about $26,000, according to a 2013 white paper from the federal Consumer Financial Protection Bureau. The Center for Responsible Lending, a nonprofit that fights predatory lending, categorizes Texas as a state “without meaningful regulation of payday lending.”     http://www.texastribune.org/2014/08/24/payday-lending/ 

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