City Council Voted to Table Cash Advance Ordinances Once More.

City Council Voted to Table Cash Advance Ordinances Once More.

Springfield City Council voted to table conversation of ordinances that will ensure it is more difficult for owners of short-term loan companies. Because it appears, the pay day loan issue won’t be discussed once more until February.

The problem of regulating payday and name loans is really a delicate one.

The problem is contentious for most states and municipalities as it’s a conflict that attempts to balance the freedom of business people together with security of the susceptible populace.

In June, Springfield City Council debated whether or not to break straight down on short-term lenders—but it wound up postponing the conversation until this fall. Continue reading “City Council Voted to Table Cash Advance Ordinances Once More.”