Rep. Gary W. Elkins District 135 (R-Houston)
Sources of Income
Elkins is the vice president and director of Corporate Managing Systems Inc., also known as Power Finance, a finance management company in Houston.
Elkins is a payday lender; he told House colleagues in 2011 that he operated payday lending operations at 12 different locations.
Elkins reports ownership in several finance companies, including Corporate Managing Systems Inc., The Money Factor Corp., GE&CE LLC, Texas Federal Housing LTD and TFHGP LLC; he also reported an interest in Personal Credit Corp., International Resource Management Consulting LLC, Commerce Freedom Investments LTD and FCIGP Management LLC.
Residence in Jersey Village valued at $264,000
Condo in Austin valued at $175,000
As reported by the Houston Chronicle, in 2011, Elkins acknowledged on the House floor that his own business would suffer if the Legislature cracked down on payday lenders. Elkins urged lawmakers to treat his knowledge of the industry as an asset and to limit burdensome regulations so "little guys like me can comply with these laws." But the Legislature passed the state's first-ever licensing and reporting requirements, HB 2594, and tougher requirements for disclosures to customers.
He has filed numerous bills over the years that would have an effect on the financial services sector.