ProPublica: Whack-a-Mole: How Payday Lenders Bounce Back When States Crack Down

August 6, 2013

In 2008, payday lenders suffered a major defeat when the Ohio legislature banned high-cost loans. That same year, they lost again when they dumped more than $20 million into an effort to roll back the law: The public voted against it by nearly two-to-one.

 But five years later, hundreds of payday loan stores still operate in Ohio, charging annual rates that can approach 700 percent. Read more here.