Davis asks Finance Commissioner to resign
Mon, 30 Dec 2013 22:30:00 GMT —
AUSTIN, Texas (AP) - Democratic gubernatorial candidate Wendy Davis has called on the chairman of the state's Finance Commission to resign after comments he made about payday lending.
The Fort Worth senator said Monday that William White revealed a conflict of interest when he told the El Paso Times it was incorrect to question the practices of payday lending companies.
He told the newspaper that consumers are responsible for getting themselves into debt trouble, not the companies that make the loans.
Gov. Rick Perry appointed White as chairman of the Finance Commission, the state agency responsible for protecting consumers from predatory lending. White is also vice president of Cash America, a major payday lender based in Fort Worth.
Critics say the loans exploit the poor and uneducated. Many cities have passed ordinances restricting them.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)