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.
Based on a scholarly study 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 when you look at the bay area Bay region.
With 3 payday loan providers and about 40,000 residents, Pacifica has .79 payday loan providers per 10,000 individuals. 2nd and place that is third to San Bruno and Redwood City, with .74 and .68 payday loan providers per 10,000 residents, correspondingly.
Associated with the 26 payday loan provider places in San Mateo County recorded because of 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 by the Insight Center therefore the Pacifica site Center, prompted Councilwoman Mary Ann Nihart to inquire about the town lawyer to schedule time next town council conference to accomplish one thing, or at talk that is least about, the matter.
Finance professionals, such as for instance Tim Lohrentz, system supervisor in the Insight Center and writer or a lot of the center’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. Continue reading