Ohioans Big Users of Payday Lending
The Columbus Dispatch: About 1 in 10 Ohioans has used payday loans in the past five years, among the higher rates in the nation.
A report released yesterday found Ohioans visit check-cashing stores and websites more than residents in all but three other states — Missouri, Oklahoma and Washington — for which sufficient survey results were available.
Not surprising, states that prohibit check-cashing stores have lower rates of lending while those with less-restrictive laws, such as Ohio, generally had higher rates, according to the Pew Charitable Trusts’ Safe Small-Dollar Loans Research Project.
Read the full article at www.dispatch.com.