Community groups and advocates stepped up their campaign from the predatory payday loan industry this week by releasing coach ads on VTA’s Route 22 as well as other coach lines in Santa Clara County. The “Don’t Get Trapped!” ads build in the City of San Jose’s present ordinance restricting payday financing within the town.
The San Jose City Council recently voted 9-1 to accept a land usage ordinance banning brand new cash advance operations from opening in low-income communities and capping the sum total quantity of pay day loan outlets permitted in the complete town during the present range 39. San Jose may be the city that is largest in the nation to impose a capon the sheer number of payday financing shops, therefore the very very first to consider a ban on brand brand new payday financing companies in low-income census tracts. The Santa Clara County Board of Supervisors also voted unanimously to impose a moratorium that is permanent cash advance companies in unincorporated aspects of the county.
“Families residing paycheck to paycheck, struggling to create ends satisfy, often fall victim to payday lenders’ offers of fast, convenient payday loans.