Restricting Payday Loan Companies

I always thought it was the pawn shops that desperate degenerate gamblers gave it all away to so they could get back into the game. But it isn't just the family jewels and heirlooms that can be piddled away since, thanks to payday loan stores, future income can be lost at extravagant interest rates, too. The Las Vegas Valley has been struggling with what to do about these parasite businesses that have exploded in number in recent years. The Sun has a nice round-up of what the various governing authorities are trying.

In North Las Vegas there is a six month moratorium on opening more of these businesses (while new regulations are developed). My suburb of Henderson is trying to zone them into the more obscure and out of the way spots; this is also the approach being taken by the city of Las Vegas and Clark County. Obviously, these businesses are being used and have customers and outlawing them would only lead to the old knee cap busting loan sharks getting the business. Still, these are businesses that deserve plenty of regulation to protect consumers, and it looks like that is starting to happen.