If you do a google news search on "payday loan", there are a LOT of articles on local municipalities imposing (or trying to impose) zoning restrictions on payday lenders. Chattanooga, San Francisco, Tempe , Las Vegas... sounds like the Route 66 song. An interesting take on this approach to limiting payday lenders comes from the Coyote Blog:
In a free society, both I and those activists [attempting to zone PDL stores] are free to convince people to not use these services, but its wrong to artificially limit people's choices out of some elitist sense that we can make decisions for other people better than they can for themselves .
Also, when these brick 'n mortars are shut down, many of the affected consumers have another choice--Internet payday lenders. Often, however, Internet PDL's charge a higher rate than brick 'n mortar stores. So please explain, how does this protect the consumer?
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Posted by: Ro | March 17, 2006 at 02:49 PM
Government in some states of America already taken an action regarding payday loan. Because it leads people to debt, unpayable debt. This action also made to protect people.
Posted by: cash advance loan | October 17, 2006 at 01:27 AM