In an effort to crack down on loans that charge as much as 400 percent interest annually, city staff in Cedar Rapids, Iowa, have recommended restrictions on where payday lenders may be located. Under the proposal, these businesses -- also known as delayed deposit services -- could not operate within 1,000 feet of a similar provider, childcare center, educational facility, park or recreational facility, or religious institute. While the city does not have the authority to abolish payday lending outfits outright, the new limitations could provide some relief. Other cities in the state have taken similar steps, with Des Moines seeing its roster of payday lenders shrink by 17 percent since adopting its new ordinance. The Cedar Rapids plan would dictate payday lending locations going forward, but it remains to be seen how it would affect the city's existing 13 lenders. Council members suggested they could take the restrictions further, with Councilwoman Monica Vernon raising the possibility of giving existing businesses a finite amount of time -- maybe three years -- to relocate to comply with the new location guidelines.