From the AP story:

Jason Arnold, an RBC Capital Markets research analyst, said the recent aggressive stances taken by Ohio and other states against payday lending have made it tougher for the industry.

“I’m not even sure the companies themselves know how successful these alternative programs will be,” said Arnold. “If it’s profitable to operate under these other pieces of legislation, they will do it. If not, I imagine a lot of them – especially the smaller operations – will just close up shop.”

Michael Evans, 61, of Cincinnati, hopes that won’t happen. Evans, who voted against the rate cap, said payday loans have helped him through some tough times.

“These loans have let me keep some money in my pocket between paychecks when I’m running low,” Evans said. “I would be hurting if they close.”