Banning of New Payday Loan Stores in Birmingham, Alabama

By | Oct 22, 2012

I was kayaking in the back-bay waters of my Newport Beach neighborhood this past weekend. I couldn’t help but be overwhelmed by the multitude of yogurt shops, pizza parlors and sushi restaurants. Signs, awnings, neon… just plain ugly. These places need to be outlawed! I long for the days when I could paddle over to my nearest buggy whip builder or my local blacksmith shop.

Absurd? What will you do when your livelihood is threatened by narrow minded politicians who don’t “get” your customer nor understand why small dollar loans are in sufficient demand to support friendly competition?

Which brings me to the following AP article regarding the banning of new payday loan stores in Birmingham, Alabama.

Birmingham extends ban on new payday loan stores By | Associated Press

BIRMINGHAM, Ala. (AP) New payday loan businesses won’t be allowed to open in Birmingham until at least next June.

The city council on Tuesday extended a ban on the businesses until June 19, according to a report (http://bit.ly/RyO2qH ) by WBRC-TV.

Officials picked that date because it comes after the end of the Legislature’s regular session. They want lawmakers to address the number of payday loan businesses in their city and across Alabama during the session.

An industry lobbyist criticized the move. Max Woods of Borrow Smart America said the decision hurts customers and small businesses. He also said it doesn’t address problems with banks.

City Council President Pro Tem Steven Hoyt said he has no problem calling out banks too if given the name of one that takes advantage of customers.

Hey! You cash 4 gold guys, you hair salons, you burger joints better watch out!! Your days may be numbered.

Read the AP Piece here: AP Alabama Payday Loans

Jer – Trihouse Consulting – Lenders, Conduits, Consultants… 702-208-6736

Who needs a $50K capital infusion for their car title loan business? Jer@TrihouseConsulting.com

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4 Comments so far
  1. Suki October 22, 2012 9:44 pm

    I’m in San Diego and I want something done about all the gyms! It sucks; they are everywhere. 24/7, Ballys, Joe’s Gym… on and on. It’s unsightly and citizens should not have to swallow this abuse.

    Then again, the CPA who manages the books for my car title loan store works out at 24/7. And the trainer he employs hits my title loan store up for $1500 2-3 times every year. Hm…

  2. Payday Loan Industry October 22, 2012 9:48 pm

    Don’t worry, Suki. Your CPA can buy a workout DVD knocked-off in China cheap since they don’t pay for our intellectual property. And your “trainer” customer can join the other 47 million Americans on food stamps that are subsidized by the 53% of us who are left to pay U.S. taxes.

  3. Suzana Daniels December 4, 2012 9:28 pm

    Hi,

    My name is Suzana. I’m a business/financial writer and a proud member of a well-known financial community . Since you have a good blog within your website (paydayloanindustryblog .com), I thought it would be really nice if I had an opportunity to present your blog’s readers with something of real value. Would you be interested in receiving a guest post submission from me?

    In return I just wish to have my name and a link embedded with the post.

    Please let me know what you think. Awaiting your positive response :)

    Regards,

  4. Payday Loan Industry December 5, 2012 12:22 am

    We are always interested in creative analysis of industry trends, strategies for servicing our borrowers faster – quicker – more efficiently. New technology and buy/sell/collaborator opportunities are of special interest as well, Reach out…
    Jer@TrihouseConsulting.com

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