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Town Square

Temporary moratorium on payday loan shops

Original post made on Sep 19, 2012

==B Menlo Park:== While contemplating what to do should a payday loan business express an interest in opening a shop in Menlo Park, the council voted for a temporary moratorium on allowing such businesses to open.

Read the full story here Web Link posted Tuesday, September 18, 2012, 5:35 PM

Comments

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Posted by Central Menlo
a resident of Menlo Park: Central Menlo Park
on Sep 19, 2012 at 12:25 pm

Thank goodness our government is here to protect the victims.


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Posted by Barney
a resident of Menlo Park: other
on Sep 19, 2012 at 12:34 pm

payday loans = loansharking

in no way do they represent the values of our community.


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Posted by Susannah
a resident of Menlo Park: Linfield Oaks
on Sep 19, 2012 at 1:23 pm

Don't usury laws give city law enforcement the means of preventing predatory lending? It sounds tough to get into banning a whole category of businesses. It could be similar to how the BBC lost its liquor license because of illegal activity but there is no ban on all restaurants and bars in the city.


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Posted by WhoRUpeople
a resident of another community
on Sep 19, 2012 at 1:45 pm

Gotta love the duplicity of MPrs. Don't care if you can't find affordable housing in town, in fact will push back on any attempt to build it, but have your back when it comes to loan sharks.


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Posted by Central Menlo
a resident of Menlo Park: Central Menlo Park
on Sep 19, 2012 at 1:57 pm

MP should ban private equity too. Think of all the harm that can cause.


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Posted by Barney
a resident of Menlo Park: other
on Sep 19, 2012 at 2:06 pm

whoRuppl: "but have your back when it comes to loan sharks."

Projecting an opinion for me on affordable housing, while not having a clue on my opinion based on my posts.

I just commented on loansharking and usury. Quit pushing your fantasy on others. Unscrupulous.

Are you a payday lender too?


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Posted by Aquamarine
a resident of another community
on Sep 19, 2012 at 4:08 pm

WhoR and Central Menlo make good points (the latter tongue in cheek). The more expensive the housing for hard working, local lower income residents, the more they'll feel pressured to go to a loan shark.