Last fall the Kansas City City Council passed new zoning regulations and additional restrictions on payday lenders, but the Council does not have the staff to oversee the new regulations, so they are now asking voters to approve a $1,000 annual fee per payday lending business in order to pay for 2-3 staff to oversee the new regulations.
So, under the guise of “protecting consumers”, the Council passes more regulations, then wants to charge an extra $1000 per year per payday lender, a fee which will likely be passed on to their customers.
Who exactly is being “protected?”
