New Ohio Payday Laws Might Not Be Working To Well- Consumers need this loan!
In recent news, Ohio’s new payday lending law might not be going as smoothly as they had planned. According to dispatchpolitics.com, the public thought the commerce department (who regulates the payday lending industry) would be able to control the payday lenders from charging high interest rates on the short term loans. It seems Ohians are getting around these new payday lending laws by offering short term loans under the Ohio Short Term Loan Act. It seems they are trying to do anything possible to get around this newly implemented law. Leadpile Lead Exchange will be keeping an eye on this to see if it affects the future lending laws of other states.
Wow. Loopholes always exist. You know something interesting that is going on as well. Payday companies, are offering Ohians, as long as they have a family member in another state that they can use the address. I don’t know all the facts but loopholes, loopholes and more loopholes!
So a Short Term Loan Act exist. Hmm.. how long will it take the state to put an end to that? They shouldn’t really butt in. It’s a free country and individuals should be responsible for their own financial decisions. If loans they want, then loans they should be able to get! Of course, if they qualify.
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