Estimated read time: Less than a minute
(KSL News) Sandy City officials will limit the number of payday loan stores within city limits.
Last night the city council approved a measure that will allow only one non-depository financial institution for every 10,000 people. The city currently has 95,000 residents and 10 payday loan stores.
When the ordinance is enforced, the city will take into account population in unincorporated areas, boosting the population to 108,000, allowing one more store to open.
The City of Salt Lake is also looking at a similar measure.