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Ames passes “No more loan that is payday” ordinance

A big kudos to Ames Iowa CCI people for taking a stand when it comes to Iowa they wish 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 from the triumph:

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

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

Ames, IA – In an unanimous vote later Tuesday night, the Ames City Council passed the most challenging, many restrictive ordinance on payday loan providers within the state of Iowa, or even the world.

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

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

Their state legislature, perhaps perhaps not metropolitan areas, has got the authority to manage rates of interest on pay day loans, which currently average slightly below 400% APR. Despite strong grassroots support for rate of interest caps, the legislature has neglected to bring a bill to your governor’s desk. This departs towns to deal with the nagging problem through zoning, with Iowa City next regarding the range of urban centers poised to do this.

“We celebrate this victory today, but carry on pressing communities round 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 profits that are putting greed in front of individuals and need.”

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

Resulting headlines:

  • Diverses Moines enroll: New zoning squelches payday lenders in Ames
  • We additionally heard from several people they heard the whole tale on Iowa Public Radio!

Join the battle

enthusiastic about replicating this in your community? Call us today.

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

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

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

Think more cities must be like Ames? Click LIKE or TWEET below to fairly share the very good news!

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