Posted at 20:27h
Payday lending moratorium extended in Montgomery, Ala.
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MONTGOMERY, Ala. The Montgomery City Council has extended a moratorium on issuing home based business licenses for payday financing businesses.
Council users voted Tuesday to increase a preexisting moratorium that is 90-day 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 said the expansion will give town officials time for you to examine the way the continuing organizations effect Montgomery, in accordance with WAKA-TV. City leaders are searching to foster a business that is diverse, Bollinger stated, incorporating which he's unsure of why payday financing companies are focused in certain aspects of the town.
Councilman Charles Smith stated the businesses are most likely placement by themselves strategically and may be maintaining other forms of organizations from starting in places where they may be predominant, in line with the Montgomery Advertiser.
Smith has stated a number of the businesses are focused along Atlanta Highway, that will be inside the region.