New law takes effect in Ohio Saturday for payday loans

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New law takes effect in Ohio Saturday for payday loans

A new law goes into effect on Saturday for short term loans, and the goal is to end the cycle of debt for some Ohians. How "The Fairness Lending Act" is designed to help borrowers get their finances back on track. What are often called payday loans were designed to help consumers  borrow cash when they're in a tight spot. But over the years they've become controversial for several reasons, and you might be surprised to learn that one in 10 Ohioans have used payday lo...

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