Local restrictions in Des Moines
August 24, 2010 | Iowa, local issues | Comments (1)From the story:
Restrictions proposed by a Plan and Zoning Commission subcommittee include the prohibition of pawn and payday loan operations in neighborhood retail and neighborhood pedestrian commercial districts. The businesses would still be allowed in eight other business and industrial districts.
A quarter-mile separation between the businesses and a 150-foot buffer from residential districts could also apply.
“I want the strongest, legally sound ordinance” possible, City Councilman Brian Meyer said.In mid-May, the City Council enacted a 180-day moratorium on new pawnshops and payday lenders amid growing concerns about their proliferation and impact on neighborhoods.
Tough crowd
August 6, 2010 | Iowa, industry | Comments (2)Seriously. How tough can a crowd be in Des Moines, Iowa?
Hearing tonight in West Des Moines
August 4, 2010 | Financial Reform Bill - CFPB, Iowa, alternatives, customers | Comments (0)Discussing limits on pawn shops and payday lenders. Here are the details:
Who: The Plan and Zoning Commission
When: 7 p.m. today in council chambers at city hall
Where: 4200 Mills Civic Parkway.
The pawn shop barometer
July 7, 2010 | Iowa, alternatives, industry | Comments (0)From the story:
Activity at pawn and loan stores can be a barometer of economic conditions. If pawns are up but sales are down, tough times are likely. If sales are swift and few people need loans, good times may be ahead. At Money & More, 1516 La Porte Road, sales are up, but so are loans.
“It’s a schizophrenic business right now,” said Lynea Davis, owner of Money & More.
Loans are still steadily increasing after taking a big jump in the summer of 2008 when gas prices hit record highs, Davis said. Loans at the store are up about 20 percent from last year. Sales fell flat for a while but have grown recently. While that’s good for business, Davis said it doesn’t necessarily mean easy times are ahead.
Pawn and loan stores are some of the first businesses to feel economic trends. Area pawn owners say they see some signs of recovery, but even more signs of uncertainty.
A city council with nothing better to do
May 14, 2010 | Iowa, industry, local issues, regulation | Comments (0)The Des Moines City Council placed temporary restrictions on pawn shops and payday loans. From the story:
Des Moines leaders have backed a temporary ban on new pawn shops and payday loan stores in the city and called upon state lawmakers to enact tighter regulations throughout Iowa.
City Council members voted 6-0 during a special meeting Thursday to have City Attorney Bruce Bergman draft an ordinance to create a six-month moratorium on such businesses. Councilman Robert Mahaffey was absent.
Long-term restrictions will be debated during the 180-day freeze. The council will meet again Monday morning to vote on the moratorium.
Des Moines
May 13, 2010 | Iowa, industry | Comments (0)The City Council is holding a meeting today on pawn shops and payday loans. From the story:
Possible restrictions on new payday loan and pawn shops in Des Moines will be discussed when the City Council holds a special meeting today at 4 p.m. at City Hall, 400 Robert D. Ray Drive.
City Councilman Brian Meyer said he will ask for a six-month moratorium on such businesses to study the issue.
I know we have bigger fish to fry, but if you live in Des Moines and have the time, why not let the City Council know how you feel?
Iowa radicals are relentless
February 19, 2010 | Iowa | Comments (1)We’ve discussed the ICCI before. They are nothing if not relentless. See their odious oped in today’s Des Moines Register.
Iowa bill not going anywhere
February 11, 2010 | Iowa, industry | Comments (1)At least according to the latest AP story:
A measure that would restrict payday loans in Iowa and likely put many of the lenders out of business appears dead for this legislative session.
The proposal would make payday lenders choose between a 36 percent cap on interest or a limit on the number of loans given to a borrower. Supporters said the measure is needed to stop lenders from taking advantage of people in Iowa, who now can be charged up to 400 percent interest.
Rep. Janet Petersen, chairwoman of the House Commerce Committee, blamed the measure’s likely failure on a lack of time and opposition from some members of a subcommittee where the proposal was assigned. The deadline for the committee to act on the bill is Friday.
Why “blamed”? Why not “credited” the measure’s failure to some legislators having good sense?
More noise in Iowa
February 10, 2010 | Iowa, industry | Comments (4)From the story:
A diverse coalition of groups is attempting to make a final push for approval of tougher regulations on payday lenders with only two days before a legislative deadline passes and the bill is dead for another year.
These people have a lot of time on their hands.
PDL “low priority” for Iowans
February 8, 2010 | Iowa, industry, regulation | Comments (1)More important things to worry about.
