payday loan moratorium

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Wed December 4, 2013

Payday Lending Moratorium Extended In Montgomery

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

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