In June 2008, customer advocates celebrated whenever Governor that is former Strickland the Short- Term Loan Act. The Act capped yearly interest rates on pay day loans at 28%. It given to various other defenses in the usage of pay day loans. Customers had another success in 2008 november. Ohio voters upheld this law that is new a landslide vote. But, these victories had been short-lived. The cash advance industry quickly developed techniques for getting across the brand new legislation and continues to run in a predatory way.