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Payday lender Check Into Cash announced today that it is closing 32 of its 92 stores in Ohio. The closings follow recently passed legislation that caps interest rates at 28 percent, making it impossible for the company to continue current operations.
It was bound to happen, and sure enough a Denver running back has risen from obscurity to become a fantasy force.
Jay Campbell thought he knew exactly what he was doing when he went to Lucky Cash 4 U on Oct. 20, 2007 and asked for a $500 loan. He'd borrowed $200 from the same lender six months earlier -- enough to take care of some unexpected expenses.
Ohio's payday lending companies are looking at other business avenues after the defeat of a referendum in the Nov. 4th election that would have allowed the payday lending industry to operate as always.
The Shiite-led government has demanded control over U.S.-funded Sunni groups that revolted against al-Qaida in Iraq in Diyala province by January — a move that could jeopardize fragile security gains in one of Iraq's most turbulent areas.
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