Payday lending moratorium extended in Montgomery, Ala.

Payday lending moratorium extended in Montgomery, Ala.

MONTGOMERY, Ala. The Montgomery City Council has extended a moratorium on issuing start up business licenses for payday lending businesses.

Council users voted Tuesday to give a current 90-day moratorium by half a year. The Montgomery Advertiser stated that Councilman Arch Lee is just a lobbyist when it comes to payday financing industry and recused himself through the vote.

Councilman Richard Bollinger stated the expansion would provide town officials time and energy to examine the way the continuing organizations effect Montgomery, in accordance with WAKA-TV. Town leaders are searching to foster a diverse company weather, Bollinger stated, incorporating he’s uncertain of why payday financing companies are focused in particular regions of the town. Lanjutkan membaca “Payday lending moratorium extended in Montgomery, Ala.”