24 January, 2021 | By Magnus Frejd |
customer advocates celebrated whenever Governor that is former Strickland the Short- Term Loan Act. The Act capped yearly rates of interest on payday advances at 28%. In addition it given to some other defenses in the usage of payday advances. Consumers had another success in November 2008. Ohio voters upheld this brand new legislation by a landslide vote. Nevertheless, these victories had been short-lived. The cash advance industry quickly created techniques for getting across the brand brand new legislation and continues to run in a predatory way. Today, four years following the Short-Term Loan Act passed, payday loan providers continue to prevent the legislation.