Thomas J. Allio Jr.

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David vs. Goliath's Loan Shark

by Thomas J. Allio Jr. 03-14-2008

A modern-day version of the story of David and Goliath is quickly unfolding at Ohio's State House. The "Davids" of this story are the faith-based groups, housing advocates, consumer, community action, and other anti-poverty organizations around the state. "Goliath" is the powerful payday lending industry that has grown to more than 1,600 stores and has gross revenues of $2 billion annually. The issue in question is whether Ohio's 12-year-old law on payday lending should be changed to provide [...]