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Item No. 8 <br />TO: Mayor <br />Mayor Pro Tem <br />City Council <br />FROM: Robert G. Vine, Assistant City Manager <br />SUBJECT: Presentation and Discussion Regarding Credit Access Businesses <br />DATE: October 10, 2022 <br />BACKGROUND: <br />On August 12, 2022, Mayor Portugal, Mayor Pro Tem Hughes and staff attended a Poverty Task <br />Force Meeting at Lewis Hall. During this meeting, these individuals received a presentation that <br />outlined various cities creating and adopting an ordinance to regulate Credit Access Businesses <br />(i.e. Pay Day Loan and Car Title Loan businesses) and address practice of predatory lending and <br />the overall negative impact it can have on a community. <br />STATUS OF ISSUE: <br />On September 30, 2022, Mayor Portugal submitted a Council Member Agenda Item Request form, <br />requesting an opportunity to receive a presentation on Credit Access Businesses, followed by <br />discussion and an opportunity to give staff direction to develop an ordinance regulating these <br />businesses. <br />Jenny Wilson, Executive Director of the United Way of Lamar County, Ann Baddour, Director of <br />Fair Financial Services Project with Texas Appleseed, and Derald Bulls, Executive Director with <br />CitySquare will provide a brief presentation discussing the importance of regulations governing <br />payday and auto title lending in Texas to build greater consumer protection. <br />BUDGET: <br />No budgetary impact. <br />