Ohio Regulations – angering many cash advance borrowers
Annie Zelm, from the Sandusky register, had a great article today entitled “Payday Customers Cry Foul“.
In the article, show says “Gov. Ted Strickland signed legislation Monday to establish stricter regulations for payday lending in Ohio — angering many borrowers who say they’ve been left without a safety net to get from one paycheck to the next”.
She really brings up some excellent points in the article. This Ohio legislation may be a case where the Government has stepped in to protect people, only to have it backfire and actually hurt a number of its constituents.
To me, it looks like a better compromise between the Government and the Payday Lenders would have better served the people.