June 20, 2012– Community groups and advocates stepped up their campaign up against the predatory payday loan industry this week by starting coach ads on VTA’s Route 22 along with other coach lines in Santa Clara County. The “Don’t Get Trapped!” ads build regarding the City of San Jose’s current ordinance limiting payday financing within the town.

The San Jose City Council recently voted 9-1 to accept a land usage ordinance banning payday that is new operations from starting in low-income communities and capping the sum total amount of cash advance outlets permitted in the whole city in the present quantity of 39. San Jose may be the city that is largest in the united states to impose a capon the amount payday loans VA of payday financing stores, while the very very first to look at a ban on brand brand new payday financing organizations in low-income census tracts. The Santa Clara County Board of Supervisors additionally voted unanimously to impose a permanent moratorium on pay day loan companies in unincorporated regions of the county.

“Families residing paycheck to paycheck, struggling in order to make ends fulfill, often fall victim to payday lenders’ offers of fast, convenient payday loans. Continue reading →