Anniston passes ordinance regulating payday loan businesses

The Anniston City Council has voted to limit short-term loan businesses in the city by distance and population. The goal is to limit the growth and eventually shrink the number of businesses such as payday lenders and title loan firms in the city.

The city's new ordinance limits any new short-term loan business from being within 600 feet of a similar business or within 500 feet of a residence, church, school or public park. The ordinance also limits new short-term loan businesses to one per every 2,500 residents in the city.

Current short-term loan businesses in the city are exempt from the ordinance. There are about 15 such businesses in the city, mainly along Quintard Avenue.