Just just exactly What do I need to realize about payday advances? In June 2008, customer advocates celebrated whenever previous Governor Strickland finalized the Short- Term Loan Act. The Act capped yearly rates of interest on payday advances at 28%. It provided for various other defenses in the utilization of payday advances. Customers had another success in November 2008. Ohio voters upheld this brand new legislation by a landslide vote. Nonetheless, these victories had been short-lived. The pay day loan industry quickly came up with techniques for getting across the brand new legislation and will continue to run in a ...