Personal View: exactly why is payday lending still therefore strong in Ohio?
5 years ago, Ohio passed the essential robust payday financing regulation in the united kingdom in reaction into the revelation that there were more payday loan providers in Ohio compared to three most frequent fast-food chains combined.
The legislation ended up being designed to protect customers from predatory loan providers asking fees that are outrageous little loans which had become repaid in 2 months or less.
Everyone else cheered, except the payday loan providers. »