Does Ohio's Short-Term Loan Act Prohibit All Single-Installment Payday Loans?
Ohio Neighborhood Finance, Inc. v. Rodney Scott, Case No. 2013-0103
Ninth District Court of Appeals (Lorain County)
ISSUES:
- Does Ohio's Mortgage Loan Act (R.C. 1321.51-R.C. 1321.60) allow lenders registered under it to make single installment, interest-bearing loans?
- Does Ohio's Short-Term Loan Act (R.C. 1321.35-R.C. 1321.48) prohibit lenders registered under the Mortgage Loan Act from making single installment, short-term loans?