Payday-lending chains to close central Ohio locations
May 29, 2008 | Uncategorized | Comments (0)
The National Check Cashers and Always Payday locations in central Ohio will be closed and their employees laid off, the chains’ management company said in a filing with the state this week. The closings are expected to be made final in August.
A total of 34 locations, 17 operating under each name, will be affected. An official of BizCorp said more than 100 employees will be laid off but declined to be more specific.
In its letter to the Ohio Department of Job and Family Services, Dublin-based BizCorp attributed the closings to the state’s new payday-lending legislation. That caps annual percentage rates of loans at 28 percent.
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