Montgomery joins growing list of Alabama cities with moratoriums on new licenses for payday, title lenders

Alabama's capital and second-largest city Tuesday joined a growing group of cities clamping down on the proliferation of payday and title lending storefronts. The Montgomery City Council voted 5-3 for a 90-day moratorium on issuing new business licenses to such operations. The moratorium does not affect current operations.

Montgomery joins a list of other state cities that have passed or renewed temporary restrictions on licenses for new payday or title lenders since 2011, including Birmingham, Center Point, Decatur, Eufaula, Irondale and Trussville. This news update examines the Montgomery council decision and what may come next.

Read ACPP policy analyst Stephen Stetson's news update here.

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