Not smart business
January 8, 2009 | industry, local issues, media coverage, personal finance, regulation | Comments (1)Some check cashers and payday lenders in Long Beach, CA are operating without licenses according to this story. It’s this kind of stuff that damages the reputation of the industry. Is it hard to get a license?
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Perhaps a Californian can explain… If the businesses are already licensed by the state why do they need to shell out $8,000 to the city for the same licensing? Is it possible that the city is simply trying to pull a speed trap stunt just to collect revenue? Does the state license that the businesses already holds trump the locality? Which set of rules should the business obey where there is a conflict? As someone who doesn’t do business in CA it sounds very confusing. Let’s hope this doesn’t become a trend.