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Personal View: exactly why is lending that is payday therefore strong in Ohio?

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Personal View: exactly why is lending that is payday therefore strong in Ohio?

5 years ago, Ohio passed probably the most robust payday lending regulation in the nation in reaction towards the revelation that there were more payday loan providers in Ohio compared to three most typical fast-food chains combined.

The legislation was designed to protect consumers from predatory loan providers billing fees that are outrageous tiny loans which had become paid back in 2 days or less.

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