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Ames passes “No more payday loan shops” ordinance

A big kudos to Ames Iowa CCI people for standing up for the Iowa they would like to see!

A great precedent for other Iowa communities looking to stop the wealth drain from payday lenders as a result of their hard work – meeting with their city council members to build support for an ordinance to stop payday lenders from expanding in Ames – Ames passed what looks like the most restrictive ordinance on payday lenders to date.This sets.

Below is our pr release regarding the success:

Ames City Council passes many ordinance that is restrictive payday loan providers to date

Iowa CCI users hail passage, aim to other urban centers in lack of state legislation

Ames, IA – In a vote that is unanimous Tuesday night, the Ames City Council passed the most challenging, many restrictive ordinance on payday loan providers within the state of Iowa, if you don’t the world.

The ordinance, which utilizes a variety of zoning overlays and separation distances, effortlessly bans any brand new payday loan provider from starting within Ames town restrictions.

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“I’m exceedingly pleased about this passage,” said CCI member Susie Petra of Ames. “Currently there aren’t any payday lenders near the Iowa State campus and there won’t be with this specific ordinance. With massive education loan financial obligation, the very last thing students required were payday lenders installing store nearby and driving them further into debt.”

Their state legislature, maybe maybe maybe not towns and cities, has got the authority to manage rates of interest on pay day loans, which currently average slightly below 400% APR. Despite strong grassroots help for rate of interest caps, the legislature has neglected to bring a bill into the governor’s desk. This will leave metropolitan areas to handle the problem through zoning, with Iowa City next regarding the listing of towns and cities poised to do this.

“We celebrate this victory today, but carry on pressing communities across the state to adhere to our lead,” added Jo Rod, another member that is CCI Ames. “We are sick and tired of corporate supported payday lenders placing earnings and greed in front of people and need.”

Iowa CCI people continues to push for rate of interest caps in the state degree in next year’s legislative session. Until then, Iowa CCI vows to follow all tools, including zoning ordinances, to suppress the abusive methods of payday loan providers.

Resulting headlines:

  • Diverses Moines enroll: New zoning squelches payday lenders in Ames
  • We additionally heard from a few people which they heard the story on Iowa Public Radio!

Get in on the fight

thinking about replicating this in your community? Today contact us.

Read more about our work to suppress payday financing in Iowa right here.

Chip in ten dollars or even more to helps us continue steadily to push for the economy that works well for several.

maybe maybe Not yet a part? Join Iowa CCI today which help produce the Iowa you intend to see.

Think more cities ought to be like Ames? Click LIKE or TWEET below to talk about the news that is good!


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