City limits figures; S.L. may follow suit
Share this story
Share All sharing choices for: Sandy limits lenders that are payday
Sandy could be the city that is latest into the Salt Lake Valley to position restrictions on payday cash-loan companies, and Salt Lake City can be next.
The Sandy City Council voted 4-3 Tuesday evening to accept an ordinance restricting how many cash advance companies into the town. The Salt Lake City Council, meanwhile, delivered the situation to its preparation payment for further conversation.
Generally known as “check always advance,” “title loans” and “non-depository” organizations, the ongoing organizations provide short-term loans at interest levels of 400 per cent or more. For that explanation, they will have come under critique and legislation in several Salt Lake County metropolitan areas.
“we have to handle the positioning therefore the range these facilities within our town due to the surrounding urban centers and whatever they’ve done and thus forth,” Sandy Councilman Bryant Anderson said. “we think it sets us in times where, then the firms in Sandy would attract plenty of (payday lenders).Read More »Sandy limits payday lenders e restricting how many pay day loan organizations in