SHREVEPORT, La. (KTAL/KMSS)-Shreveport city council members vote to table banning new money lenders from setting up shop in the city.
After hours of public speaking and citizens sharing both sides to this ordinance, the council finally decided to make revisions.
Originally council members were asked to consider no longer issuing permits for payday loans, title loan agencies and pawn shops.
However, council members decided to remove pawn shops from the ordinance and table their vote until the next meeting.
“I am not looking to expand, so from my standpoint, I should say oh good, no more pawn shops, less competition, yay, no competition is good.
Competition is good for any business in any market. It makes that market tighter, better for the consumer,” said Craig Toys, Max’s Pawn Shop.
“Pawnshop was not really a predatory issue. So we introduced it without the pawn shop being apart of the institutions that we wanted to regulate,” said Willie Bradford, Council Member.
The council is set to vote at the next meeting. If approved the ordinance will prevent businesses from opening within a five-mile radius of Caddo Parish for one year.
The next council meeting is set for July 23rd at Government Plaza at 3:00 p.m.