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City council considers regulations on pay day loan organizations

City council considers regulations on pay day loan organizations

Payday, name as well as other short-term money loan providers in Columbia could see stricter laws in the event that Columbia City Council moves ahead having an ordinance observe the industry.

The town council is considering imposing laws on short-term financing establishments, such as for example payday and title loan providers, to check out the lead of St. Louis and Kansas City, that have passed away ordinances to cap the quantity of loans and need particular information on organizations’ signage.

Kacy Hall, a town administration other for the city of Columbia, presented information to council users early in the day this about the prevalence of payday loan companies in Columbia and regulations passed in St. Louis and Kansas City that Columbia could use as a model week.

In Columbia, you can find 23 installment, title and cash advance vendors, Hall stated. Continue reading “City council considers regulations on pay day loan organizations”

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