In what was called a "classic debate," the Salt Lake County Council voted to approve legislation that would limit the number of cash lenders to one per every 10,000 county residents. Additionally it required physical loan shops to maintain a specified distance apart from each other, to limit density.
One council member who voted for the ordinance nevertheless had his doubts about its effectiveness: "What we do here doesn't fix the rate problems, it just grants local monopolies and makes it even harder for the real issue of rates and disclosures to be addressed."
Ten cities in the already maintain legal restrictions on payday lending.
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