Ohio is celebrating its 212th birthday with special events at the Ohio Statehouse in Columbus.
Some Ohio legislators are accusing payday lenders of skirting the spirit of a new state law, so they can continue to charge sky-high rates on short-term loans.
Supporters of a new state law that slashes the interest charges payday lenders may charge have won two unexpected endorsements.
Democratic Gov. Ted Strickland and Republican legislative leaders vow to fight an effort by payday lenders to repeal tougher regulations on short-term loans.
Ohio Attorney General Nancy Rogers has rejected proposed language for a ballot issue to repeal the state’s tough new regulations on payday lenders.
Ohioans seeking a short-term or payday loan may be hard pressed to get one come September when House Bill 545 takes effect.
Payday lending stores. For every $100 they lend out for two weeks, they charge $15 in interest and fees.