Ohio update: 14 Senators sign 36% rate cap bill
April 15, 2008 | Columbus Dispatch, Ohio, industry, media coverage, regulation, states | Comments (0)From today’s Columbus Dispatch:
“If Grendell’s bill or House Bill 333 were to pass, the payday-lending industry says its more than 1,600 stores would be put out of business quickly. Under a 36-percent rate, they would be allowed to charge less than $1.50 per $100 borrowed on a two-week loan. The current rate is about $15.”
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