Law & Health Weekly
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Check Into Cash
Check Into Cash to Close 32 Ohio Stores
December 6th, 2008
Payday lender Check Into Cash announced that it is closing 32 of its 92 stores in Ohio. The closings follow recently passed legislation that caps interest rates at 28 percent, making it impossible for the company to continue current operations. The 60 stores that remain open are offering micro loans under the Ohio Small Loan Act. "We're making an effort to continue serving our customers," said Check Into Cash President Steve Scoggins. "While the federal government understands the importance of providing access to credit as it's doing with the bailout," notes Scoggins, "Ohio legislators insisted on eliminating credit access for its citizens. In addition, this is putting...
Source: Law & Health Weekly (2008-12-06)
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