Payday lending moratorium extended in Montgomery, Ala.

MONTGOMERY, Ala. – The Montgomery City Council has extended a moratorium on issuing start up business licenses for payday financing businesses.

Council people voted Tuesday to give a preexisting 90-day moratorium by 6 months. The Montgomery Advertiser stated that Councilman Arch Lee is really a lobbyist when it comes to lending that is payday and recused himself from the vote.

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