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Ames passes “No more loan that is payday” ordinance

A kudos that are big Ames Iowa CCI users for standing for the Iowa they want 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 news release from the triumph:

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

Iowa CCI users hail passage, aim to other metropolitan areas in lack of state legislation

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

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

“I’m extremely pleased about this passage,” said CCI user Susie Petra of Ames. “Currently there are not any payday lenders near the Iowa State campus and there won’t be with this particular ordinance. The final thing students required were payday lenders installing store nearby and driving them further into debt. with massive education loan debt”

Hawaii legislature, maybe maybe not urban centers, has got the authority to regulate rates of interest on payday advances, which currently average slightly below 400% APR. The legislature has failed to bring a bill to the governor’s desk despite strong grassroots support for interest rate caps. This departs towns to deal with the problem through zoning, with Iowa City next regarding the a number of urban centers poised to do this.

“We celebrate this victory today, but continue pressing communities all over state to check out our lead,” added Jo Rod, another member that is CCI Ames. “We are sick and tired of corporate supported payday loan providers profits that are putting greed in front of people and need.”

Iowa CCI users continues to push for interest caps in the state degree in next year’s session that is legislative. Until then, Iowa CCI vows to pursue all tools, including ordinances that are zoning to control the abusive methods of payday lenders.

Resulting headlines:

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

Get in on the fight

enthusiastic about replicating this in your community? E mail us today.

Find out more about our strive to suppress payday financing in Iowa right here.

Chip in ten dollars or higher to helps us continue steadily to push for the economy that really works for several.

perhaps maybe Not yet a part? Join Iowa CCI today which help create the Iowa you wish to see.

Think more cities must certanly be like Ames? Click LIKE or TWEET below to generally share the great news!

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