Ohio's Short-Term Loan Act, reformed by the 2018 Fairness in Lending Act, caps interest at 28% plus limited monthly maintenance fees and restricts loan size, term, and total cost. The rules brought effective APRs down sharply from the prior payday model while keeping a regulated short-term product available. These loans remain intended for short-term needs.
Key limits in Ohio
- Cost note: 28% interest plus capped fees
Figures can change — always confirm current limits with the official source below before borrowing.
Source: Consumer Federation of America (paydayloaninfo.org) · last verified 2026-07-24 · pending second-source verification
This page is general information, not legal or financial advice. State laws change; verify current rules with your state regulator or the source above.