Fresno pushes loan that is payday, experts stress monetary problems

A lot of the council authorized an agenda to need unique licenses for almost any payday loan operation that is new. One objective is to try using zoning and land usage legislation to help keep them from the poorest areas of city.

Experts state they damage the town’s economy by billing huge interest levels that trap economically struggling individuals in a endless period of financial obligation. City laws will maybe not already impact the stores open.

66 payday lenders are certified within the town of Fresno, with seven shops in a stretch that is half-mile of Canyon path in Southeast Fresno.

Critics state these lenders that are payday focusing on the working bad, creating store within the areas of Fresno with low income amounts.