Topic: Money Payday Loans - Are Payday Loan Businesses Preying on the Poor? - WOAI
However, Councilwoman Sheila McNeil says too many of the payday loan and check cashing businesses are popping up in poor neighborhoods and possibly preying on too many poor families. McNeil and the rest of city council are considering a possible plan to regulate where the businesses can open. McNeil calls the businesses predatory and points out their reputation for sticking customers with extremely high interest rates. That’s why McNeil said she’d like the city to look into zoning and how many of these businesses are opening in certain neighborhoods, especially on the East Side. City council members are expected to discuss payday loans and check cashing businesses on Thursday. Learn more
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