New county ordinance to limit payday lenders Other Issues, posted by Editor, Mountain View Voice Online, on May 4, 2012 at 4:27 pm
The Santa Clara County Board of Supervisors passed an ordinance Tuesday night that blocks payday lenders and check-cashing businesses from opening new branches in the unincorporated areas of Santa Clara County.
Read the full story here Web Link posted Friday, May 4, 2012, 11:04 AM
Posted by Sabrina, a resident of the The Crossings neighborhood, on May 5, 2012 at 9:01 am
Thank you for this small step in the elimination of one piece of financial fraud. These businesses prey on the poor and uninformed, in the end benefiting on themselves, and have no place in our community.
Posted by Otto Maddox, a resident of the Monta Loma neighborhood, on May 7, 2012 at 2:07 pm
Prey on the poor? Really? I used to have lunch everyday at a place located next to one of these loan businesses. The rates are CLEARLY displayed in the front window. I'll admit I wouldn't pay that kind of interest but it's none of my business if someone else wants to.
I don't know who makes up the typical check cashing customer but it's up to them what they want to do with their money.
Now some of the tax money we all pay will have to be spent enforcing this stupid law. The "poor people" will get their loans one way or another.. just might not be in Santa Clara County.