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Working Poor

irisblue

(34,749 posts) Tue Jul 31, 2018, 03:05 PM Jul 2018

60% interest for payday loans in Ohio. XPost

WOSU News (@wosunews) Tweeted:
Payday lending restrictions signed into law by @JohnKasich will cap interest rates at 60 percent, far below what they are now. https://t.co/hDofrxcvIm

Link to tweet

3 replies

= new reply since forum marked as read

Highlight:

60% interest for payday loans in Ohio. XPost (Original Post) irisblue Jul 2018 OP

I was watching clips on youtube about payday loan companies in England shadowrider Aug 2018 #1

Clearly I'm in the wrong business discntnt_irny_srcsm Aug 2018 #2

Nah you're not. shadowrider Aug 2018 #3

shadowrider

(4,941 posts)

1. I was watching clips on youtube about payday loan companies in England

Reply to irisblue (Original post)

Sun Aug 5, 2018, 11:52 AM

Aug 2018

Last edited Mon Aug 6, 2018, 05:19 PM - Edit history (1)

One was charging over 25,000 percent. Yes, twenty five thousand percent.

discntnt_irny_srcsm

(18,626 posts)

2. Clearly I'm in the wrong business

Reply to shadowrider (Reply #1)

Sun Aug 5, 2018, 12:45 PM

Aug 2018

Anybody want to borrow $10?

shadowrider

(4,941 posts)

3. Nah you're not.

Reply to discntnt_irny_srcsm (Reply #2)

Mon Aug 6, 2018, 05:19 PM

Aug 2018

The default rate is astronomical on ANY payday loan eventually.

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