BALLWIN, MO (KTVI) – A discussion over commercial zoning issues that created a buzz in Ballwin started with the idea of prohibiting payday loan stores and quickly turned into creating future regulations. Ballwin Mayor Tom Pogue says payday loan stores and their operations have been of great interest to officials.
The city wants to place restrictions on the six locations within Ballwin. The mayor says nearby cities have prohibited payday loan businesses all together and they hoped to do the same. City officials held work sessions to discuss how they wanted payday loan stores to have the same regulations as traditional banks. On Monday night City Attorney Robert Jones released his research and opinion on regulations.
'It`s not in the best interest of Ballwin to prohibit the stores. We can regulate them especially for the public welfare because there are a higher amount of calls for these stores compared to other financial institutions.' Said Jones
There was no vote on the issue and if new ordinances are passed all future restrictions would only apply to new stores. Official`s also want to limit the number of stores and signage. FOX 2 tried to reach numerous payday loan operators in the city and were unable to get a comment. Future discussions on the issue will be held by the planning and zoning commission for review.