Bill would stop 24-hour cash advance sites in Nashville

Bill would stop 24-hour cash advance sites in Nashville

Cash advance and check-cashing businesses in Nashville might be struggling to stay open round the clock under guidelines proposed from inside the Metro Council.

an expenses backed by Metro Councilman Jason Holleman — which phone calls those enterprises “particularly dangerous and detrimental towards the people” once they operate in the middle of the evening — would restrict them from running between midnight and 6 a.m.

If recommended, the methods would mark the second collection of brand-new rules to target Nashville’s fast-growing pay day loan field after the council in November chosen to restrict latest payday businesses also pawn retailers from locating within one-quarter of a kilometer from where another currently is present.

That original proposal encountered small pushback from pay day loan field. Nevertheless latest has come under flame, particularly from Advance monetary, a Franklin-based cash loan business with which has expanded to possess 56 stores inside Southeast, such as 16 in Nashville. Advance economic claims it would need certainly to lay-off around 300 employees in Davidson district if Holleman’s costs are to pass.

“You could say the audience is fighting it tooth and complete,” Advance monetary spokesman and lobbyist Cullen Earnest said. “It’s a costs that strikes the industry — or united states, in general, because we’re truly the only organization nowadays this is certainly functioning twenty-four hours a day.

“His bill particularly says it’s to decrease criminal activity,” he extra, countering: “We’ve got zero cases of criminal activity within shop in 2014 and 2013.”

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