Ohio Consumer Lenders Association

Payday lending storefronts
Andy Chow / Statehouse News Bureau

A battle is brewing over payday lending in Ohio. There are more than 650 storefronts in the state but the industry argues that a new bill threatens to shut them all down. However, consumer advocates say payday lending has been skirting around state law for years to prey on desperate borrowers. 

“It just snowballed so bad and I couldn’t get out of that hole.”

Denise Brooks, a single mother from Cincinnati, was desperate to pay her car insurance bill. So she took out a loan from a payday lender.

photo of Monopoly house and coins
WKSU

Nearly nine years after Ohio lawmakers passed—and voters upheld— a crackdown on payday loan businesses, people are still borrowing from quick-cash lenders. And the lenders are still charging huge interest rates. Statehouse correspondent Karen Kasler says another proposal to regulate the industry is back before legislators.