Payday Loan Fight Continues In Ohio
The payday loan battle in Ohio continues. Local Ohio newspapers are reporting that a plan is in place for payday lenders to save their industry by fighting recent legislation and in turn provide consumers with necessary financing alternatives. As we have discussed previously, the new legislation would essentially kill the payday loan industry in Ohio. As for now, the industry has to plan accordingly. Jeff Kursman, spokesman for Check’n Go, did not go as far as saying they’d close all Ohio locations, but they are exploring all options.
“We know there is a demand for our product, and we are seeking opportunity to continue to meet that need,” he said.
Strickland said the bill shows that “we will not tolerate individuals being exposed to exorbitant rates, which does contribute to this cycle of indebtedness.”
Many people say they think the payday lending industry contributes to poor management of personal funds […]
Original post by mikejohns