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WACO, Texas (KWTX) Tuesday night the Waco City Council voted for the first time on a possible ordinance limiting payday lenders in the Waco area in an effort to protect borrowers. The council voted 5-1 in favor of the new ordinance which, if passed for a second time in a future city council meeting

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A crowd including pastors, professionals and working people urged Waco City Council on Tuesday to regulate the payday loan industry.

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Councilman pushes for controls on Waco payday lenders limiting payday loans to 20 percent of a borrower’s A typical payday loan in Texas carries an