Payday, name along with other money that is short-term in Columbia could see stricter laws in the event that Columbia City Council moves ahead having an ordinance observe the industry.
The town council is considering imposing laws on short-term financing establishments, such as for instance payday and title loan providers, to follow along with the lead of St. Louis and Kansas City, which may have passed away ordinances to cap the total amount of loans and need specific information on organizationsвЂ™ signage.
Kacy Hall, a town management other when it comes to town of Columbia, presented information to council users earlier in the day this about the prevalence of payday loan companies in Columbia and regulations passed in St. Louis and Kansas City that Columbia could use as a model week.
In Columbia, you can find 23 installment, title and cash advance vendors, Hall stated. Continue reading