When you need quick cash, payday loans are an option, but do you know how quickly the interest rates add up?

Because many people do not know, the Staunton City Council passed a resolution asking the general assembly to put a 36-percent interest rate cap on payday lending.

On Tuesday night, the Harrisonburg City Council got on board with the idea. At the meeting, the council didn't implement anything locally. It just supported what Staunton did by passing a resolution of its own, in the hope that other localities will follow suit.

A 36-percent interest rate on payday loans is a high price to pay for quick cash.

"It's much better than the three digits that some people can get into, like they can get into. Some people end up paying as much as 700 percent in late fees, so this at least caps it to 36 percent," says City Council member Carolyn Frank.

Thirty-six percent is still much more than what credit cards charge.

"Four times the prime rate, sounds like a good cap to me, works for me. I think that would cover a lot of risk," says Vice Mayor George Pace.

The Harrisonburg City Council followed the Staunton City Council's recommendation to the Virginia General Assembly to create a resolution that would cap payday loans.

"I think there's a feeling that the payday loan lobby in Richmond is fairly strong and is well-healed," says Harrisonburg City Council member Charles Chenault.

Some people turning to the quick solution of a payday loan, but Frank says these payday lenders are preying on less fortunate people.

"One of our roles in government is to look after the welfare of our people and it can just destroy families because you're just digging a deeper hole," says Frank.

There is still the possibility the General Assembly may not act on the resolution. But the feeling is, if enough localities support it, the General Assembly will take action.