Check cashing, loan firms fight limits

Judy Odierna

Tuesday, Jan. 7, 2003 | 9:43 a.m.

Members of the Nevada Financial Services Association hope that the city of Las Vegas will work with them prior to passing new restrictions on companies that offer high-fee check cashing, payday loans and auto title loans.

At a City Council recommending committee meeting on Monday, Jim Marchesi, president of Check City and of the Nevada Financial Services Association, said he believes in regulating the business but grouping all the different loan companies and pawn shops under the same legislation wasn't the right way to go about it.

"These are vastly different businesses but it really doesn't differentiate that," Marchesi said. "If 7-Eleven puts a check cashing (facility) into their store are they included or not?"

The proposed bill revises zoning requirements for check cashing, paycheck advance, auto title loan and auto pawn financial institutions. It would require the businesses to get special zoning permits to open and would add distance regulations. These businesses would have to be located at least 1,000 feet away from each other, and no closer than 200 feet from any home.

The business would only be allowed to operate between 8 a.m. and 8 p.m. and the design and color of the building would be subject to a review by city staff.

The bill was sponsored by Councilman Michael McDonald, who asked for changes to the zoning law because constituents were complaining about the bright colors some of the businesses painted their buildings.

Councilman Michael Mack recused himself from discussing the item because of his ownership in a First Class Pawn & Jewelry shop, which left Councilman Lawrence Weekly, the other member of the committee, to move the item to the City Council without a recommendation.