September 2013

Whack-a-Mole: How Payday Lenders Bounce Back When States Crack Down

In 2008, Ohio’s legislature banned high-cost loans, but the industry has since found ways to continue offering the same services. Despite the public voting against the industry’s efforts to roll back the law by a two-to-one margin, hundreds of payday loan stores still operate in the state, charging annual rates of up to 700 percent. 

Whack-a-Mole: How Payday Lenders Bounce Back When States Crack Down Read More »