Senator Bill Seitz, before urging rejection to the payday lending ban, stated the bill was “not fair to consumers” and that the “economic impact of this legislation should not underestimated.”

Senator Bob Schuler stated, “I think we are going overboard now.”

Payday lenders employ more than 6,000 in Ohio in 1,600 storefront locations. Two major national payday lending companies are headquartered in Ohio, including Dublin-based Checksmart and Mason-based Check ‘n Go. 

• Close 1600 storefront locations
• Eliminate more than 6,000 jobs 
• Lose $172.6 million annually in employee payroll, benefits & payroll taxes 
• Vacate 4.8 million square feet of office space  
• Lose $76.8 million annually in rent revenue to landlords across the state
• Lose $23 million annually in revenue to advertising vendors