Pacifica has got the greatest per capita price of payday loan providers in San Mateo County

Pacifica has got the greatest per capita price of payday loan providers in San Mateo County

It has the Pacifica site Center’s executive manager Anita Rees and town council user Mary Ann Nihart stressed.

Relating https://cartitleloansextra.com/payday-loans-ct/ to research because of the Insight Center for Community Economic developing, Pacifica has got the greatest per capita price of payday loan providers in San Mateo County, and another for the greatest into the san francisco bay area Bay region.

With 3 payday loan providers and around 40,000 residents, Pacifica has .79 payday lenders per 10,000 individuals. 2nd and third destination go to San Bruno and Redwood City, with .74 and .68 payday lenders per 10,000 residents, correspondingly.

Associated with the 26 payday loan provider places in San Mateo County recorded by the state in 2008, 10 had been in Pacifica, Daly City and San Bruno–over 38 per cent of branches.

This information, taken to the town council’s attention because of the Insight Center in addition to Pacifica site Center, prompted Councilwoman Mary Ann Nihart to ask the city lawyer to schedule time next town council conference to accomplish one thing, or at minimum talk about, the matter.

Finance experts, such as for instance Tim Lohrentz, system supervisor in the Insight Center and author or a lot of the guts’s reporting on payday lending in San Mateo County, and individuals who work face-to-face with indigent people and families, think payday financing is predatory. […]

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