Yea, that’s what they told you
November 10, 2008 | COHHIO, Ohio, industry, industry critics, media coverage, regulation, states | Comments (0)Ohioans are coming around to the conclusion that payday lending stores are going to close in the state. From the story:
State Issue 5 will have devastating consequences on short-term loan companies in Ohio, according to representatives from the payday-lending industry.
Ohio Voters approved the measure on Election Day. It caps interest rates on payday loans at 28 percent, limits short-term loans to a $500 maximum and adds other restrictions. Its passage upholds a decision made earlier this year by the Ohio General Assembly that was challenged through referendum. Interest rates were previously capped at 391.
The move will force one company, CashLand, a Cash America Company, to close 43 of approximately 140 Ohio stores, resulting in the loss of about 150 jobs, according to Yolanda Walker, director of public relations for Cash America.
Update: Similar story in Mansfield (OH) News.
Comments»
No comments yet.