Springfield City Council voted to table conversation of ordinances that will ensure it is more difficult for owners of short-term loan companies. Since it stands, the pay day loan issue wonвЂ™t be discussed again until February.
The matter of regulating payday and name loans is a delicate one.
The problem is contentious for several states and municipalities as itвЂ™s a conflict that attempts to balance the freedom of business people as well as the security of a population that is vulnerable.
In Springfield City Council debated whether to crack down on short-term lendersвЂ”but it ended up postponing the discussion until this fall june.