Would this bill cause payday lending to become unprofitable & no longer exist?
Healthy Person asked: Currently in Ohio, the cap on payday loans is 391%.
In Ohio, Issue 5 on the ballot will put a cap on the interest rates to 28%.
Arguments against this bill suggest that this would make payday lending unprofitable, and therefore cease to exist.
Do you think that theory is true? How likely is it [...]
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