After a City Council Finance and Administration Committee meeting Tuesday, Councilman Mike Schilling called short-term loans “predatory.”

He, Councilman Craig Hosmer and Councilman Matthew Simpson voted to pass the proposal on to the full council for consideration. Committee member Councilman Richard Ollis was not at the meeting.

Contained in the draft ordinance is stern language condemning payday loan companies and their ilk.

Short-term lending practices “result in serious financial hardships to some of (Springfield’s) citizens, particularly its elderly and low-income citizens, from which they cannot readily extract themselves; can perpetuate poverty; and can increase dependency upon public financial assistance, housing, health care and social services,” the draft ordinance says.