Veritec Database in Ohio….pisses everyone off.

The state of Ohio is managing to piss everyone off – lenders and consumer groups alike.  They want to pass along $0.50 to the consumer.  It’s a pretty flimsy rule b/c it includes loans less than 60 days long.  Looks like CSO installment loans (61 days +) will be the new loan product.

You can read “Database that tracks payday loans tucked into Ohio’s budget” here.

It was worth reading this article for this comment:

If the state is gonna steal from every payday lending transaction, couldn’t they give it to an OHIO company!

by admin

Bookmark the permalink.

Both comments and trackbacks are currently closed.