Ballot Board Certifies Payday Lending Proposal
The Ohio Ballot Board Tuesday certified a payday lending proposal as a single ballot issue.
Backers of the "Short-Term Loan Consumer Protection Amendment" may now start gathering the more than 306 thousand petition signatures needed to get the measure on the ballot next year. It would cap interest rates on payday loans and impose additional regulations on the industry. Ohio voters approved payday lending limits in 2008, but the industry has found ways to bypass those restrictions.