Cash Advance Stores Restricted

October 10th, 2007 | by rocketc |

In a recent post about cash advance stores, I indicated that such services should only be used in case of emergency. Unfortunately, such businesses often take advantage of folks who already have money management problems and make their problems worse.

Just in the last day or so, I found this article about a city council effort to limit such stores. I thought it especially interesting that they want to require cash stores to post their interest rates:

The ordinance also requires that all cash advance stores in the city display current interest rates on the front window of the building in a legible manner.

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