Payday lending a ‘horrible period’ for a few Ohioans

Payday lending a ‘horrible period’ for a few Ohioans

By Thomas Gnau and Laura A. Bischoff, Cox Papers

DAYTON, Ohio — One away from 10 Ohioans used payday advances in order to make ends fulfill, based on a lawmaker that is local to improve a method that many people state has ruined their economic life.

Supporters of payday financing state home Bill 123, which passed week that is last the Ohio home to cap high rates of interest and manage minimal payments, will stop usage of cash for approximately 1 million individuals when you look at the state.

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