An item on the Montgomery, Ala., city council's agenda could threaten the future of payday and title loan businesses in the city. Councilmen Richard Bollinger and Charles Smith have proposed a temporary freeze on business licenses for these types of lending agencies. Smith estimates that there are nearly 100 short-term loan businesses in Montgomery. He has asked the city to impose a moratorium on new lending-business licenses until it can study the impact that payday loans have on the local economy. The Alabama Legislature attempted during its last session to pass laws to regulate the industry, which can charge an average 300 percent interest on a loan over the course of a year; but the legislation died.