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Home passes payday financing bill

Friday, March 26th, 2021

Home passes payday financing bill

After having a spirited debate yesterday, the Ohio home passed a bill that will slice the fees payday loan providers may charge for short-term loans.

The House voted 61-37 to prohibit payday lenders from issuing checks and then charging customers to cash them with 48 Democrats joining 13 republicans. The bill additionally would restrict origination and credit-check fees on loans of $1,000 or less to as soon as every ninety days. (more…)