Phoenix to Restrict Payday Loan Locations

Historical archive, first published 2005 — payday-lending laws and rates have changed since. Preserved for the record.

Phoenix, AZ — Phoenix planners are drafting an ordinance that would require that payday loan stores must be at least 1,000 feet apart. While city officials admit that these new zoning laws won't change lending practices of stores that offer the cash advance loans to consumers at high rates of interest, they will at least help curb the clustering of such businesses in low-income neighborhoods.