DECATUR -- Monday night, the city council approved a plan to limit the number of payday loan stores in the city. Under changes to the zoning ordinance, new stores have to be at least 1,500 feet from one another and they can't be near homes. Existing stores are exempt from the new rules.
Original: 4:22 pm
DECATUR -- City leaders are considering a plan to limit the number of payday loan stores. Critics say they take advantage of the area's neediest residents.
The stores charge high-interest rates, making it difficult to pay the loan back. New stores would have to be at least 1,500 feet apart and couldn't be near homes. Existing stores wouldn't be affected.