ORDER ONLINE
ORDER ONLINE

Whitehall mayor lauds rules that are new pay day loans

Whitehall mayor lauds rules that are new pay day loans

Tuesday

Whitehall Mayor Kim Maggard states she actually is happy a state that is new managing short-term loans will better protect residents, but opponents associated with the brand new legislation state it will probably further damage those that count on such loans.

Amendments into the law that is new the issuance of loans in excess of $1,000 as well as for regards to a lot more than 12 months, in line with the legislation.

A provision that is new what the law states additionally forbids any short-term loan provider from expanding loans to virtually any specific in combinations that exceed $2,500, stated Ohio Rep. Kyle Koehler (R-Springfield), the bill’s co-sponsor with Ohio Rep. Mike Ashford (D-Toledo).

“This bill will not restrict how many loans (a loan provider can issue) .