payday loan moratorium

Selma City Council members have extended the city's moratorium on new payday loan stores and may extend a ban on issuing new liquor licenses.

Officials voted Tuesday to extend the payday loan store ban for six months. Councilman Michael Johnson says he's researching future restrictions on the businesses, including requiring a certain distance between locations.

Jason Comely / Flickr

The Montgomery City Council has extended a moratorium on issuing new business licenses for payday lending companies.

Council voted Tuesday to extend a 90-day moratorium by six months. Councilman Richard Bollinger said the extension would give city officials time to examine how the businesses impact Montgomery.

Bollinger says city leaders are looking to foster a diverse business climate, and are unsure of why payday lending businesses are concentrated in specific areas of the city.