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New county ordinance to limit payday lenders

Original post made on May 4, 2012

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

Comments (6)

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Posted by kman
a resident of Monta Loma
on May 4, 2012 at 4:27 pm

If they need money bad, they will just go to the next city that has them.

This is ridiculous to limit them. Government pushing it's power around again.

The nannies are at it again. They should just go back to kindergarten were there talents would be more appreciated.

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Posted by Alex M.
a resident of Willowgate
on May 4, 2012 at 5:01 pm

It's interesting to note that the "number of Starbucks locations" has become a standard measure of comparison. This isn't the first article in which I've seen that standard used.

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Posted by Sabrina
a resident of The Crossings
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.

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Posted by Sabrina
a resident of The Crossings
on May 5, 2012 at 9:04 am

*only themselves

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Posted by Otto Maddox
a resident of Monta Loma
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.

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Posted by gcoladon
a resident of North Whisman
on May 7, 2012 at 5:19 pm

gcoladon is a registered user.

What fraud are these businesses all guilty of?

If it's just that they charge too high a rate for their service, maybe we can have Goldman Sachs and Skadden, Arps outlawed as well.

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