Iowa cities bypass state to halt short-term payday lenders
DES MOINES (AP) — Efforts to limit payday lenders in Iowa have repeatedly failed in the Legislature, but more cities are approving zoning changes that make it harder to open the businesses.
Cedar Rapids last week became the latest city to approve an ordinance that bans the short-term loan businesses from certain areas. It became the sixth Iowa city to approve such a law since 2010, leaving opponents of the loan shops hopeful that the city-by-city limits will prompt the Legislature to take action.
“It’s been an uphill battle trying to get some more regulations surrounding payday loans,” said Sen. Janet Petersen, D-Des Moines, who has previously introduced legislation on the issue. “The fact that they’re organizing more on a community level can only assist us at the state level.”
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