Springfield City Council voted to table conversation of ordinances that could ensure it is more difficult for owners of short-term loan companies. Because it appears, the pay day loan issue wonвЂ™t be discussed once more until February.
The matter of regulating title and payday loans is really a delicate one.
The issue is contentious for most states and municipalities since itвЂ™s a conflict that attempts to balance the freedom of companies in addition to security of the population that is vulnerable.
In Springfield City Council debated whether to crack down on short-term lendersвЂ”but it ended up postponing the discussion until this fall june.