Payday Pundit

And here’s the reaction to the Senate vote from one of the nation’s leading payday lenders: 

Commenting on the decision to cease store operations in Ohio, the Company’s President and Chief Executive Officer, Daniel R. Feehan said, “It is indeed a sad day when state legislators decide to end a small loan alternative that has proven to be widely accepted by customers and supported by independent academic studies. Until the law becomes effective, we will continue to serve our Ohio customers’ needs for short term loans in this difficult economic environment. In the meantime, we will also be evaluating the viability of offering alternative financial services in Ohio in an effort to mitigate the impact we currently expect this new law will have on our customers, coworkers and lending locations.”