Let me make it clear about Ohio’s payday issue
Experts state the short-term financing industry preys from the bad, but lawmakers are not scrambling for a fix
The short-term loan industry is running practically unchecked in Ohio, straining regional economies like Cleveland’s, in which the loan providers are especially active, and drawing ire from opponents associated with loan providers.
Today while lawmakers have voiced plans to regulate the industry, though, past efforts have been completely ineffective, and there’s little momentum behind regulating those kinds of lenders. (more…)