Exactly how Payday Lenders Escape State Crackdowns.In 2008, payday loan providers suffered a defeat that is major the Ohio legislature banned high-cost loans.

Exactly how Payday Lenders Escape State Crackdowns.In 2008, payday loan providers suffered a defeat that is major the Ohio legislature banned high-cost loans.

Want cash fast? Hope you don’t mind an interest that is annual of almost 700 %.

Paul Kiel

That year that is same they destroyed once again once they dumped a lot more than $20 million into an endeavor to move right back what the law states: The public voted against it by almost two-to-one.

But 5 years later on, a huge selection of pay day loan shops nevertheless run in Ohio, billing rates that are annual can approach 700 %. […]