Keys for Collateral: exactly how auto-title loans have become another car for payday financing in Ohio
Loan providers have actually circumvented Ohio legislation made to restrict lending that is payday and also started operating under regulations designed for other purposes. These loans put struggling families at danger of losing the automobiles they rely on for his or her livelihood.
Policy issues has carried out research on payday financing in Ohio going back 5 years. Our initial research discovered that the lending that is payday expanded from simply over 100 shops when you look at the midвЂђ1990s to a lot more than 1,600 shops in 2007, with shops in 86 of OhioвЂ™s 88 counties. Read more