Estimated read time: Less than a minute
SALT LAKE CITY (AP) -- A new law limits the number of payday loan shops that can operate in unincorporated areas of Salt Lake County.
The regulations replace a months-long moratorium and limit check-cashing and loan shops to one per 10,000 county residents.
The new rules also forbid check-cashing businesses from opening within 600 feet of one another.
A handful of cities in the county already have zoning or density restrictions on payday lenders.
The Utah Consumer Lending Association protested the council's action Tuesday. It said the market is the best regulator of all.
Information from: Deseret News
(Copyright 2008 by The Associated Press. All Rights Reserved.)