City council considers regulations on cash advance businesses

City council considers regulations on cash advance businesses

Payday, name as well as other short-term cash loan providers in Columbia could see stricter laws if the Columbia City Council moves ahead with an ordinance observe the industry.

The town council is considering imposing laws on short-term financing establishments, such as for instance payday and title loan providers, to adhere to the lead of St. Louis and Kansas City, that have passed ordinances to cap the quantity of loans and need specific information about organizations’ signage.

Kacy Hall, a town administration other when it comes to town of Columbia, presented information to council users early in the day this week in regards to the prevalence of cash advance businesses in Columbia and laws passed in St. Read more