Ohio’s brand new payday loan legislation will be here

Ohio’s brand new payday loan legislation will be here

By Melissa Martin

There are about 650 payday financing stores in Ohio—that’s 650 a lot of I think. But search loan providers!

A fresh short-term loan legislation (House Bill 123) is able to get in place this thirty days. The point is always to assist Ohioans stuck in the period of financial obligation whenever loans that are small with fees and interest—making payback difficult. HB 123 closes the loophole that is exploited making certain borrowers continues to gain access to credit.Continue reading