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In 2008, payday loan providers suffered a significant beat whenever the Ohio legislature banned high-cost loans. That exact same year, they lost once more if they dumped more than $20 million into an attempt to move straight straight back what the law states: the general public voted against it by almost two-to-one.
But 5 years later on, a huge selection of cash advance shops still run in Ohio, billing yearly prices that can approach 700 %.
It is only one exemplory instance of the industry’s resilience. Leer más