Limiting Payday Lenders in SL County

None by KCPW

(KCPW News) Salt Lake County Councilman Joe Hatch wants zoning restrictions in unincorporated parts of the county to keeping payday lenders from clustering. He says it's bad for communities and other businesses when multiple check cashing businesses congregate on one block.

He's proposing zoning changes similar to the rules some cities impose on pawn shops. Taylorsville, West Valley and South Salt Lake have already enacted such restrictions on payday lenders. The Salt Lake County only has jurisdiction over unincorporated parts of the county, so Hatch is starting there. But he says he will also ask the State Legislature to enact the restrictions statewide. Last year, the measure failed.

Hatch will make his zoning proposal during the County Council's work session on Tuesday.

Recently, Congress passed a measure capping the interest rate payday lenders can charge to members of the military at 36-percent APR.

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