Check into Cash to keep Ohio, Arizona stores open
November 8, 2008 | Arizona, Center for Responsible Lending, Ohio, industry critics, states | Comments (0)But they will be changing their service. According to this story:
Judy Powers, director of communications for Check Into Cash in Cleveland, Tenn., said Check Into Cash has started making the microloans in Ohio, charging a documentation fee on loans that remain at the new interest rate cap of 28 percent.
“We’re really disappointed in the vote, but we are going to work hard to continue to provide a needed service,” she said.
Under the new type of loans, borrowers will pay a loan origination fee of $15 on loans up to $450 and a $30 fee on loans up to $600. Check Into Cash stores also provide some check-cashing services and sell preloaded debit cards, Ms. Powers said.
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