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September 16, 2005

Nevada town may limit number of payday loan stores

Henderson is joining several other southern Nevada communities including Clark County and Las Vegas, to see if it should curb the growing number of payday loan stores.

That's after City Council members approved two new payday loan stores last week. The total number in the city is 31.

There is a growing concern the payday loan stores go after people who simply can not afford high interest rates.

Among new rules being considered are keeping new payday loan stores away from schools, residential areas and existing ones.

North Las Vegas in July imposed a six-month moratorium on new payday loan stores.

First they approve them, then they are concerned. Keeping them away from school? I don't know of many school children who use payday loans. Residential areas? Those poor folks that can't afford high interest rates will have to drive further to get cash. At today's gas prices ...

Posted in Payday Loans at September 16, 2005 01:44 PM

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