Friday

Payday financing as Ohio has understood it really is over — but short-term financing is perhaps perhaps maybe not going away.

A new legislation takes impact Saturday with stricter limitations on interest and costs, plus installment payment needs, all built to avoid getting desperate borrowers stuck in a debt trap.

When finalized by then-Gov. John Kasich on July 30, the industry that is payday it could place them away from organizations, leaving those without old-fashioned banking options nowhere to show for crisis credit. Read More “200 shops will operate under Ohio’s stricter lending law that is payday”