Oktoobar 14, 2026 · Ordinance · 2026-325
Amend Regulation of Payday Lending Code to update program fees (amend Code Section 7.26.030)
Soo koobid af fudud
City raises yearly permit fee for payday lenders to match inflation
Payday lenders, businesses that make small short-term loans, must get a yearly city permit. This raises that permit fee by about 60%, the first increase since the program began in 2006. The fee will also rise each year with inflation.
Decision: Passed, 10 to 0, with 2 councilors absent.
Who it affects: The 5 payday lending businesses that hold city permits, located in Districts 1 and 2.
Money: The annual permit fee goes up about 60%, close to the 55% rise in prices since 2006. The money helps pay for the city staff who regulate these lenders. Exact dollar amounts were not given.
Next: Takes effect January 1, 2027.
Official record
Waxaa qoray AI iyadoo ka duulaysa diiwaanka rasmiga ah, si toos ah ayaana loo hubiyay. Oktoobar 14, 2026
Soo koobid af fudud
Payday lenders' yearly city permit fee goes up 60 percent
Payday lenders, businesses that make small, short-term loans, must get a yearly city permit. This change raises that permit fee by about 60 percent, the first increase since the program began in 2006. After that, the fee will rise each year with inflation.
Decision: Moved forward to a second reading, a required final vote, on October 14, 2026. No vote count was given.
Who it affects: The 5 payday lending businesses that hold city permits, which are located in Districts 1 and 2.
Money: The yearly permit fee rises about 60 percent, close to the 55 percent rise in prices since 2006. The fees help pay for the city staff who oversee payday lenders. The program brought in 7 percent of the Revenue Division's regulatory program money in the 2024-2025 budget year.
Next: Second reading on October 14, 2026 at 9:30 am. If passed, the change takes effect January 1, 2027.
Official record
Waxaa qoray AI iyadoo ka duulaysa diiwaanka rasmiga ah, si toos ah ayaana loo hubiyay. Oktoobar 7, 2026
- Full title
- Amend Regulation of Payday Lending Code to update program fees (amend Code Section 7.26.030)
- Status
- Passed
- Document number
- 2026-325
- Introduced by
- Councilor Steve Novick
- City department
- Revenue Division
- Requested council date
- October 14, 2026
- Purpose and background
- The proposed legislation updates the application fee for inflation and adds an annual inflation indexing factor.
- Financial and budgetary impacts
- This ordinance is submitted as part of an overall package of ordinances to update the regulatory programs administered by the Office of the Chief Financial Officer, Revenue Division, and ensure adequate funding for the current position performing the regulatory work. The package adjusts applicable fees and charges, adding an inflationary adjustment to support the programs that continue.
- Economic and real estate impacts
- Notices were sent to the addresses and emails listed for each permit holder with information about the proposed changes, the public comment period, and a link to the website where they could learn more and provide comment. The public comment period was open for one month with limited feedback received. The feedback received opposed the changes on the basis of the fee increase. The 60% increase to the annual permit is close to the CPI increase of 55% since the last fee change. We do not expect that the increase will have any substantial impact on the ability of Payday Lenders to operate in Portland. While a more significant increase to the fee and how that might act as a deterrent to these businesses was contemplated during the development of this legislation, it was determined that access to the services provided by payday lenders is occasionally necessary in emergency situations, especially by lower income populations with less access to friends and family with excess capital or other institutional lenders. Active permit holders are located in Districts 1 and 2. We do not expect a disproportionate impact on any particular District due to these changes. Fee increases were intentionally connected to CPI increases in an effort to offset the cost of administering the regulatory program as a whole. However, full cost recovery would have required additional increases across the programs. Fees in other jurisdictions are varied. Only 35 states allow payday lending. The City of Eugene assesses $500 fee in addition to the State of Oregon fee of $750, whereas Corvallis does not assess any additional fees. Looking broader, fees vary between just state mandated fees ranging from $300 to $1000 to additional jurisdictional fees.
- Community impacts and community involvement
- This legislation will increase the annual permit application fee for persons conducting payday lender activities to account for inflation, which has not been updated for a significant period of time.
- 100% renewable goal
- Not applicable.