debt

Photo of President Donald Trump and First Lady Melania Trump
LYDIA TAYLOR / WKSU

Here are your morning headlines for Friday, October 12:

Payday lending storefronts
Andy Chow / Statehouse News Bureau

A battle is brewing over payday lending in Ohio. There are more than 650 storefronts in the state but the industry argues that a new bill threatens to shut them all down. However, consumer advocates say payday lending has been skirting around state law for years to prey on desperate borrowers. 

“It just snowballed so bad and I couldn’t get out of that hole.”

Denise Brooks, a single mother from Cincinnati, was desperate to pay her car insurance bill. So she took out a loan from a payday lender.

Photo of Dave Yost
Karen Kasler / Statehouse News Bureau

State Auditor Dave Yost is sounding a warning about the financial stress on Ohio’s counties and cities, saying their fiscal health is slightly worse than it was a year ago.