Comment on Ohio payday lender cuts jobs, blames new regulations

Ohio payday lender cuts jobs, blames new regulations

Community Choice Financial Inc. has closed some storefronts and is cutting staffing in response to a looming regulatory crackdown on payday lending. The Dublin-based parent of CheckSmart and nine similar brands outlined cost-cutting measures as the industry shifts away from the short-term, high-interest loans targeted in impending rules by the federal Consumer Financial Protection Bureau. Community Choice eliminated 11.2 percent of its work force in the six-month period ending Sept.

 

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