Decision Regarding Payday Loans Law Still Pending In Birmingham

The Birmingham City Council decided to hold a public hearing first before taking any decision regarding payday loans. This decision was taken on October 4, 2011. The Councilwoman Lashunda Scales asked that the delay was meant to give time to the lawyers. They must look into the ordinance carefully.  Scales sticks to her statement "Economic development depends on the type of businesses that can employ members of the community as well as serve to be a true community friendly business" she said in an interview after the meeting. "These businesses have their own interest at heart; that's obvious. However my job and the job of the city is to protect the citizens from those who would take advantage of those who need that kind of service most."

The date of the public hearing is not decided yet. Common men will get opportunity to present their views to the city officials. Scale’s mentioned that she was well acquainted with the public views for restricting the online payday loan service APR. Scales said that most of the payday loan business mints a lot of money from the innocent people. Councilwoman Kim Rafferty was not satisfied with the decision as well. She wanted other business to be promoted equally.

On the other hand Charles Hunter, spokesman for Borrow Smart Alabama, the industry's trade group mentioned that the Birmingham council was clever enough to postpone the decision. He said that payday loans has become a necessity now a days but is not well portrayed publically.