Caldwell votes to restrict payday loan companies

Caldwell votes to restrict payday loan companies

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by KTVB.COM

KTVB.COM

Posted on December 16, 2013 at 10:33 PM

Updated Tuesday, Dec 17 at 8:03 AM

CALDWELL -- The Caldwell City Council voted Monday to restrict where payday and title loan companies can set up shop.

The vote means those companies will now be relegated to industrial zones within the city.

They can still open up in commercial areas, but it will require permission from the city.

Those in favor the code change say the centers prey on low-income earners, and get them stuck in high-interest payments.

The city council also passed a motion stating that they'll continue working on other ways to regulate these types of businesses.

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