Ted Cruz defends lending that is payday San Antonio end. What goes on if i close my bank account and standard on a loan that is payday.

Pushed by people of San Antonio’s black colored community to simply help fight payday loan providers who abuse high-interest loans to their community, U.S. Sen. Ted Cruz alternatively cautioned them about getting too aggressive against those companies. Cruz acknowledged that for a few people, cash advance financial obligation can spiral quickly out of hand. But once he had been expected to straight straight straight back legislation to cap pay day loan interest prices, Cruz stated he is reluctant to do this which could force some loan providers to quit providing such loans to those who require them. Read more