Temple Daily Telegram: Belton Council Unanimously Restricts Alternative Financial Services

August 28, 2014

The Belton City Council unanimously passed an ordinance Tuesday that will restrict the location and number of alternative financial services in the community, such as payday loans, car title loans and check-cashing businesses. 

The genesis of the local ordinance came about when Rucker Preston, executive director of the Helping Hands Ministry, and volunteers with the organization expressed concerns about the practices of payday lending businesses, which they say charge a high rate of interest, and their negative impact on poor and middle-income families.

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