AUSTIN, TX -- Two issues of particular relevance to the economic well being of low income and minority Texans - payday loans and insurance redlining - await major developments on Friday in separate forums in Austin.

PAYDAY LOANS

· What: The Texas Finance Commission will consider for final adoption rules that would authorize payday lending in Texas. Consumers Union believes that authorizing payday loans raises significant public policy concerns and has filed comments regarding problems in the proposed rules that should be addressed by the Commission.

· When: Friday, June 16, 9 a.m. (meeting starts at 9 a.m., but decision anticipated between 10 a.m. to 12 noon)

· Where: 3rd Floor Hearing Room, Finance Commission Building, 2601 N. Lamar Blvd.

· Contact: Reggie James, Consumers Union, (512) 477-4431, ext. 118

INSURANCE REDLINING

· What: On Tuesday, June 13, Travis County District Judge Jeanne Meurer took under advisement a temporary injunction (TI) request by State Farm (the largest insurer in Texas and the U.S.) to block the release of zip code data for automobile insurance policies sold in Texas. The information is key to determining the presence of discrimination in the sales of auto insurance policies, known as redlining.

A temporary restraining order (TRO) currently in effect expires on Friday, June 16, meaning the data would automatically become public unless Judge Meurer rules otherwise.

· When: Friday, June 16, 2000 - 10:30 a.m.

· Where: Travis County Courthouse, Room 412

· Contacts: D. J. Powers, Center for Economic Justice (512) 444-1641 or Rafael Ayuso, Consumers Union, (512) 477-4431, ext. 114.