Aldermen Put Hold on Certain Types of Businesses

September 10, 2009
Clinton News 
payday lending news

Officials in Clinton, Miss., have banned new title loan shops, check-cashing outlets, and other specific businesses from opening in the city in the next 90 days. The moratorium -- which also applies to tattoo parlors, businesses that buy gold and precious metals, pawn shops, and nail salons -- gives the Board of Aldermen time to study zoning laws in preparation for a big zoning revamp. The freeze affects at least four title loan stores -- many of which, along with the check-cashing locations, provide payday loans. "I've heard from many in the city that this [moratorium] is exactly the type of thing they want to see," commented Clinton planning and zoning commission member Ryan Tracy. "They want economic development to be channeled toward something that builds the community, and not something that has been viewed as a detriment."

Abstract News © Copyright 2008-2013 INFORMATION, INC.
Powered by Information, Inc.

Stay Updated

Join the fight against predatory lending. Enter your e-mail to sign up for breaking news, action alerts, and CRL's original research.

   Please leave this field empty

Help Us End Predatory Lending

Predatory lending destroys family wealth, and preys on our most vulnerable communities. You can help us end abusive lending practices by donating to CRL, or by sharing our work with others.