Payday lender Dollar Financial Corp said Thursday it will continue to review its operations in Ohio after new legislation was passed in the state restricting fees and rates on short-term loans.
Dollar Financial said the legislation will have a minimal impact on its operations, as total fees from its 21 Ohio stores accounted for less than 1 percent of total consumer lending revenue during the quarter ended March 31.
Cash America International Inc., an operator of pawn shops, said Thursday it will close up to 139 locations in Ohio because of the new legislation, while payday loan provider Advance America, Cash Advance Centers Inc. said late Wednesday it might close its 246 centers.
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