Ohio pay day loan outfits dropping to 200 as brand new legislation takes impact Saturday
Payday financing as Ohio has understood it really is over — but lending that is short-term maybe maybe maybe not going away.
A law that is new impact Saturday with stricter limitations on interest and charges, plus installment payment demands, all designed to avoid getting desperate borrowers stuck in a financial obligation trap.
Whenever signed by then-Gov. John Kasich on July 30, the payday industry warned it could place them away from company, making those without