Springfield City Council voted to table conversation of ordinances that will ensure it is tougher for people who own short-term loan companies. Since it appears, the pay day loan issue wonвЂ™t be discussed once again until February.
The matter of regulating payday and name loans is really a delicate one.
The problem is contentious for most states and municipalities given that itвЂ™s a conflict that attempts to balance the freedom of business people in addition to security of a population that is vulnerable.
In June, Springfield City Council debated whether or not to split straight down on short-term lendersвЂ”but it wound up postponing the conversation until this autumn.Read More »City Council Voted to Table Cash Advance Ordinances Once Again.