Peoria City Council enacts moratorium on payday lenders
June 25, 2008 | Illinois | Comments (0)No new stores for 180 days. The PJ Star has the details. From the piece:
During the moratorium, city staff members will develop an ordinance aimed at regulating the stores within city limits. An ordinance is expected to be drafted by November.
“This moratorium is not intended . . . to regulate the business practices, but rather to regulate the number of locations of these entities,” said 2nd District Councilwoman Barbara Van Auken, who proposed the moratorium after being contacted by concerned constituents about the industry’s growth in Peoria.
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