Springfield City Council voted to table conversation of ordinances that could ensure it is more difficult for owners of short-term loan organizations. Since it appears, the pay day loan issue won’t be discussed once more until February.
The matter of regulating payday and name loans is really a delicate one.
The problem is contentious for several states and municipalities as it’s a conflict that tries to balance the freedom of business people as well as the security of the vulnerable populace.
In Springfield City Council debated whether to crack down on short-term lenders—but it ended up postponing the discussion until this fall june.
A week ago, Council voted to table the conversation once more, this time around until its conference on February 10, 2020. Continue reading City Council Voted to Table Cash Advance Ordinances Once Again.