The City of Austin reminds consumers and businesses that the Financial Advocacy Resources (FAR) team monitors payday lenders and auto title lenders through enforcement of the Credit Access Business (CAB) Ordinance.
ADDITIONAL INFORMATION ON THE RECENTLY ADOPTED CAB CODE AND ADMINISTRATIVE RULES WILL BE POSTED IN THE NEAR FUTURE.
The FAR team is part of the City’s Telecommunications & Regulatory Affairs Office (TARA) that enforces the ordinance that Council adopted in 2011 as amended in 2015, to reduce abusive and predatory lending practices.
Consumers can also contact the Financial Advocacy Resources team with questions or concerns regarding payday lending. The FAR team is available to provide consumer information, resource referrals, and information on payday and auto title lending requirements. The FAR Staff also investigates complaints by consumers.
Credit Access Business Ordinance
The Credit Access Business Ordinance requires that all payday lenders and auto title lenders register with the City who monitors the businesses to ensure and assist the businesses in complying with the ordinance. Payday lenders and auto title lenders should contact City for information about the ordinance.