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Pew urges other states wanting to better regulate the cash advance industry to consider Ohio’s brand new law as being a feasible model.

Pew urges other states wanting to better regulate the cash advance industry to consider Ohio’s brand new law as being a feasible model.

A Springfield Chamber of Commerce formal attended a Pew presentation about payday financing during a vacation to Washington, D.C. as he got home, he recommended that the Springfield group and Pew join forces.

They did, with Ruby, Drewery, as well as other Springfield citizens providing neighborhood knowledge and sharing their experiences while Pew provided information and technical expertise. Pew had already developed safeguards for reforming lending that is payday on several years of research. Key conditions included affordable payments, reasonable time and energy to repay, and costs no greater than required to make credit available.Read More