Payday Lending and the Governor’s race

It keeps being a thing. The El Paso Times now reports that the payday lending issue has officially entered the gubernatorial election, and that it has created some big waves between the candidates. As I noted a couple of days ago, the controversy first arose when it came out that William White, the de facto Payday Lending Commissioner, was an official with such an institution. In another story first broken by the Times, Senator Wendy Davis (the Democratic nominee for Governor) called for the commissioners’ resignation.

In a retort, Attorney General Greg Abbott (the Republican frontrunner for Governor) pointed out that Davis had actually voted to confirm White in his role as Chairman of the Texas Finance Commission. This point, of course, was first made by Big Jolly Politics. While all this is true, Davis’ campaign went on to note the extenuating circumstances regarding that such vote. White was part of a large cluster of nominees to be confirmed concurrently, meaning that in order to block him she would have had to block all the nominees. Additionally, the Times notes that Davis had already made negative comments regarding White before his confirmation.

Click here to read more!

Davis and Payday lending

The El Paso Times continues reporting on a controversy that has been brewing now for a number of days. First, the Times reported last Sunday that the Chairman of the Texas Finance Commission, as well as the Consumer Credit Commissioner, a man named William J. White, has extensive ties to the payday lending industry. Specifically, he is the Vice-President of Cash America, one of the largest payday lending chains. This type of cronyism, of course, is not an especially new move for someone affiliated with the Perry administration, but I digress.

The Times approached White a few weeks ago to talk about the possible conflict, and received nothing but abrasive and laconic retorts from the Commissioner. The article then went on to discuss the many excesses of payday lending and its sometimes usurious tendencies. Sagacious followers of Texpatriate will be very familiar with those excesses, so I will not discuss them here. Otherwise, read the article (it’s quite good).

Click here to read more!