Payday-loan bans: proof of indirect impacts on provide

Payday-loan bans: proof of indirect impacts on provide

In 2008, Ohio enacted the Short-Term Loan Law which imposed a 28% APR on payday loans, effectively banning the industry november. Utilizing certification reports from 2006 to 2010, we examine if you can find alterations in the provide part associated with the pawnbroker, precious-metals, small-loan, and second-mortgage financing industries during durations as soon as the ban is beneficial. Seemingly regression that is unrelated reveal the ban escalates the typical county-level running small-loan, second-mortgage, and pawnbroker licensees per million by 156, 43, and 97%, correspondingly.

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