Former Arlington Councilmember Shari Capehart firmly advocated for the ordinances. She are concerned about balancing the requirement to regulate the instead of driving from the team of urban area completely.

“We had been maybe not searching for not having her or him,” she told you. “You dont want to painting anyone with similar brush.”

Alternatively, brand new council designed a regulation, using the model ordinance regarding the Colorado Civil Category, to deal with the main benefit loan providers possess over borrowers.

First, Arlington broke up the fresh large category of loan providers so you’re able to clearly define what are finance companies, and you can preciselywhat are “alternative loan providers” such as for instance pay day lenders and vehicles label loan providers. Continue reading →