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New payday loan laws go into effect
Posted on Jan 12, 2012

SOURCE: http://www.ksat.com/news/defenders/New-payday-loan-laws-go-into-effect/-/478436/7675126/-/11c5duvz/-/

SAN ANTONIO - Borrowers who need a few hundred bucks quickly are more frequently relying on so-called "payday loans" at one of the many small loan companies across the area, but these loans can also be expensive.

Now, rules are in effect that should allow borrowers to have more information about what they are getting into.

On Southwest Military Drive in San Antonio, there are loan companies on just about every corner. People go to those places to borrow a few hundred to a few thousand dollars for everything from bills to car repairs to other purchases

Click on the above link for the rest of the story originally aired on KSAT 12 news on January 10, 2012