Here’s one way [1] that deregulation has worked in Texas:
Large corporations that operate payday lenders, many of them based in Texas, have been steady contributors to Perry’s political campaigns over the last decade, donating upwards of $200,000, according to Texas campaign finance disclosure statements. In 2004, Perry appointed William J. White, a senior executive of one of the nation’s largest payday lending corporations, Cash America International, to a seat on the Texas Finance Commission, which is tasked in part with protecting the state’s consumers. Two years ago, the governor elevated White to the chairmanship of that body.
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