Payday Pundit

This is about the fifth or sixth story we’ve posted in the last several weeks about a Utah city restricting check cashers and payday lenders:

Provo would become the second Utah County city to regulate the lenders, joining Salt Lake County and communities in limiting where and how many check-cashing operations can set up shop.
    While advocates for the poor support city ordinances, they warn that the quotas won’t make much of a difference - as long as the businesses can still charge annual interest rates in excess of 500 percent.
    But the Utah Consumer Lending Association, a trade group representing payday lenders, says cities are actually hurting people who can’t go anywhere else to get emergency loans.