LINKEDINCOMMENTMORE

HOUSTON Houston City Council passed an ordinance Wednesday that puts restrictions on payday loan lenders.

The new law limits a loan s size and how often it can be refinanced.

Mayor Parker said she hoped lawmakers in Austin would pass a statewide law restricting payday loans. The new measure takes effect July 1, 2014.

Read or Share this story: http://www.khou.com/story/news/local/neighborhood/2014/07/24/12286974/