On December 10, the Ohio Supreme Court will hear a case concerning short term, high interest loans known as payday loans. The focus of the case is the breadth of the Short-Term Loan Act, which limits how much lenders can charge.
Payday loans are prevalent throughout the state. Some consider these loans to be usurious and a debt trap for low income workers. Lenders say they are merely filling a market need.
Much is at stake. A court brief filed on behalf ...Continue Reading →