Archive for December, 2013

Ohio Supreme Court to hear payday loan case

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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 ...

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