Ohio Governor John Kasich has signed into law a proposal cracking down on the payday lending industry.
The bill caps interest rates, limits fees and bars loans with terms of less than 30 days. Payments on loans of 90 days or less may not exceed 7 percent of a borrower's monthly net income, or 6 percent of the gross income.The governor also signed into law a bill creating tougher penalties for distracted driving . House Bill 95 makes distracted driving a secondary offense, with a fine of 100 dollars. As a secondary offense, drivers first must be pulled over for a moving violation in order to be cited. The law classifies distracted driving as operating a moving vehicle while texting, reading, using a tablet or smartphone, or applying cosmetics.