Ames, Iowa, Bans New Payday Lenders from Coming to Town

Cities cannot regulate interest rates for payday lenders, but cities can restrict the growth of the businesses through zoning laws, which is what Ames has done. The new ordinance requires that payday lenders be more than 1,000 feet from schools, child care centers, other payday lenders, any land zoned for residential uses or any arterial street.