Payday financing stores dot the landscape of Ohio’s little towns, residential district strip malls and inner-city thoroughfares.
To listen to one side tell it, they provide their customers — many with bad credit — much-needed use of fast cash for emergencies and everyday expenses.
To listen to one other side tell it, they make use of the poor by charging you the interest rates that are highest in the nation.
One part employs a tiny military of well-connected lobbyists and provides greatly to governmental campaigns.
One other part, usually the one pushing reforms, has less savings but declines to back off.
“David didn’t stay an opportunity against Goliath but we understand whom won that battle, ” said the Rev. Carl Ruby of Springfield, that is leading a coalition and only home Bill 123, which demands major reforms of this lending industry that is payday. “We understand that people are up against a Goliath, but we think that that is a situation where right will overcome may. Read more