Scottsdale, AZ Imposes Tougher Payday Regulations
According to The East Valley Tribune Saturday, Scottsdale City Council has voted to impose tougher regulations on payday loan stores that are in Scottsdale, AZ. This was imposed to try and decrease the number of stores in the city. The Scottsdale City Council had agreed to implement minimum distance requirements between these payday loan stores. The specifics of the new restrictions will be determined in upcoming council meetings. Mayor Mary Manross had previously requested the council to pursue new regulations, saying she wanted to avoid an increase in stores that do not “lend themselves to uplifting neighborhoods and centers.” Also, Proposition 200 will be voted on by the public in November to determine whether to allow payday loan operations to continue past their current expiration date of July 1, 2010.
Should Scottsdale be able to control the number of payday stores doing business in it’s city?