After months of delay, aldermen give approval that is initial restrictions on payday loan providers

After months of delay, aldermen give approval that is initial restrictions on payday loan providers

The St. Louis Board of Aldermen on Friday gave initial approval to legislation that will place brand brand brand new limitations on payday loan providers when you look at the town.

Local officials cannot regulate things such as the attention that loan providers charge in the loans that are short-term. Alternatively, the bills from Alderman Cara Spencer, D-20th Ward, need loan providers getting a license to work into the town, and set limitations on where brand new ones can open. Continue reading “After months of delay, aldermen give approval that is initial restrictions on payday loan providers”