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Check Into Cash
Check Into Cash Plans to Close 93 Ohio Centers
June 7th, 2008
Check Into Cash announced that it plans to close its 93 Ohio locations in response to legislation passed this week that will effectively ban the payday loan industry in the state. The bill passed by the Ohio Legislature will impose a 28% APR cap on payday loans, reducing the fee on a $100, two-week loan to just $1.08. Check Into Cash President Steve Scoggins said, "It's hard to believe that legislators turned their backs on thousands of constituents and passed this law that will put 6,000 people out of work. Not only that," he continued, "but thousands more will be denied access to this short-term credit option." For Check Into...
Source: Law & Health Weekly (2008-06-07)
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