Kansas City is considering new ordinances that would limit the number of payday loan stores in the area. This is a result of concerns from consumer advocates who say payday lending is legalized loan sharking, predatory and that it hurts low-income borrowers - those who can least afford to pay the sky-high fees.

This topic, BTW, has drawn more comments than any other on this blog.

A payday lender in KC has a column in the KC Star this week, in case you're interested in hearing their side of the story. They argue that payday loans are helpful to consumers. AG Nixon has been one of the industry's most vocal critics in Missouri, calling for drastic reforms.