midweekpreviews

[midweekpreviews]

Midweek Pay Loan Reviews

Midweek Pay Loan Reviews

After more than a decade of waiting, Ohioans will finally see affordable small loans—thanks to the Fairness in Lending Act, the strong bipartisan reform measure recently passed by the Legislature.

The new law effective today is the most consequential and balanced payday loan reform enacted by any state. It achieves three fundamental goals: affordable payments, lower prices, and reasonable time to repay. When loans issued under previous law become illegal in April, it will enable credit to flow while transforming Ohio’s small loans into some of the safest and lowest-cost products available anywhere in the country. The law will protect consumers from the unaffordable payday loans that often led them into long-term cycles of debt, with 83 percent of the loans taken out within two weeks of a previous loan.