Janet Adams Cashland and other payday lenders can continue making short-term loans in Ohio, the Supreme Court has ruled. Staff reporter- Columbus Business First | | | The state’s payday lenders earned a victory Wednesday with the ruling the companies can continue making short-term, single-installment loans. The opinion reverses a judgment from the Ninth District Court of Appeals that said Ohio Neighborhood Finance Inc.’s Cashland stores were skirting legislation – Short-Term Lender Act – introduced by the General Assembly six years ago that capped loan amounts and interest rates. The suit will go to trial court for further proceedings. “It is not the role...
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