Brantford town council would like to implement limits that are new the amount and location of cash advance establishments.
A licensing that is new will restrict the place and quantity of cash advance companies into the town.
The guidelines, which need last approval by council at a gathering on Nov. 19, limit the quantity of pay day loan shops to 10 and prevents them from finding within 150 metres of вЂњselective delicate land uses,вЂќ including crisis residences, video gaming establishments, team houses, medical clinics and workplaces, and schools.
The money-lending companies will also be asked to have evidence of a legitimate licence that is provincial have actually commercial basic obligation insurance coverage into the quantity of $2 million.
вЂњItвЂ™s a step up the right direction,вЂќ stated Coun. Rick Weaver, that has been employed by a long period toward regulation of cash advance establishments within the town.