loan business moratorium Montgomery http://apr.org en Montgomery Bans New Quick-Loan Businesses http://apr.org/post/montgomery-bans-new-quick-loan-businesses <p>The city of Montgomery is enacting a temporary ban on new business licenses for payday lending companies.</p><p></p><p></p><p>The 90-day moratorium approved by the City Council on Tuesday also includes businesses that let consumers pawn their car titles.</p><p>Alabama cities including Birmingham and Tuscaloosa have enacted similar moratoriums.</p><p>Short-term lenders have been controversial among Alabama lawmakers for several years. The companies include title loans, payday loans and check-cashing businesses.</p> Wed, 04 Sep 2013 21:13:32 +0000 The Associated Press 37262 at http://apr.org Montgomery Bans New Quick-Loan Businesses