Red Bank cracks down on check-cashing and pawn businesses
Red Bank, TN (WDEF) – Red Bank cracks down on check cashing businesses.
The Commissioners voted last night to amend the city code regarding the location of alternative financial services.
That includes pawn brokers, title lenders, and check cashing businesses.
The goal is to limit the number of companies in the city limits.
Randall Smith serves as the Red Bank City Manager. He said, "We’re a small city. We’re six miles linear, one mile wide, you know, you wouldn’t want to drive through Red Bank and every other business be a pawn shop or a payday lender or some type of alternative financial institution."
Now these types of businesses have to be at least one-quarter mile from one another.
They must also be at least 50 feet from residential zones.
The Commissioners voted last night to amend the city code regarding the location of alternative financial services.
That includes pawn brokers, title lenders, and check cashing businesses.
The goal is to limit the number of companies in the city limits.
Randall Smith serves as the Red Bank City Manager. He said, "We’re a small city. We’re six miles linear, one mile wide, you know, you wouldn’t want to drive through Red Bank and every other business be a pawn shop or a payday lender or some type of alternative financial institution."
Now these types of businesses have to be at least one-quarter mile from one another.
They must also be at least 50 feet from residential zones.
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