Elevate Describes Why Ohio Payday Law Won’t Hurt Them
In Elevate’s Q2 2018 seminar call yesterday, Chairman and CEO Kenneth Rees pointed out that Elevate wasn’t concerned about an Ohio bill, finalized into legislation yesterday, that places significant limitations on just what payday lenders may do into the state.
The Fairness in Lending Act (House Bill 123) will close a loophole that payday loan providers have already been utilizing to bypass the state’s 28 per cent optimum APR on loans. Regulations is certainly going into impact at the conclusion of October with this 12 months.