Chesterfield officials look to ban payday lenders - NBC12 - Richmond, VA News

Chesterfield officials look to ban payday lenders

Posted: Updated:
CHESTERFIELD, VA (WWBT) -

Chesterfield County officials want to ban certain types of fast-cash businesses, and they're turning to state lawmakers for permission. The Planning Commission is trying to adopt a policy that would exclude payday and car-title lenders from setting up shop in Chesterfield.

However, the Planning Commission can't do it alone. They're asking the Board of Supervisors to go to the General Assembly, because state lawmakers must give Chesterfield permission to ban the businesses.

It's an extreme move, but a necessary one says Bill Brown with the Planning Commission. "I think the cost to the county and its citizens are much greater than the benefits."

For a county that prides itself on being pro-business, Brown says payday and car-title lenders aren't good for business. He says they decrease land-values and give the impression an area is in decline.

"We are pro-business," said Brown. "But there are businesses that are good for the economy and there are businesses that are not good for the economy. This group is one of the latter."

No businesses would close if the policy were approved. Also, pawn shops and cash-for-gold businesses would not be banned.

The Chesterfield Board of Supervisors will tackle this issue at their next meeting on November 15.

Copyright 2012 WWBT NBC12.  All rights reserved.

Powered by WorldNow