Ohio Payday Loan Laws and Regulations in (OH)

(last updated 11/13/2019)
Payday loans and cash advances are legal in Ohio. The Ohio Division of Financial Institutions has been regulating Payday Loans and Cash Advances since 1980. As of 01/30/2015 there were 337 licensed lenders and 1,115 licensed locations in Ohio.
The maximum payday loan allowed in Ohio is $500. The maximum payday loan as a percentage of income is not specified. The number of loans that can be open at one time is 1, and a total of 4 per year. The maximum permissible fees allowed in Ohio is dependent upon the lenders license, 353% APR is the maximum. The cooling off or waiting period for obtaining another loan is no more than 2 loans in 90 days. The number of rollovers that are permitted is 0. The minimum loan term is 31 days. The maximum loan term is not specified.
This information is for informational purposes only. Although care has been taken to accurately describe the laws and regulations in Ohio, no guarantees are implied or expressed about its accuracy. This is not legal advice. If you need legal advice, please consult an attorney or the Ohio Division of Financial Institutions.
The following classes of lending organizations may be exempt from some , all, or none of the regulations set by the state of Ohio. Federally chartered banks, state chartered banks, credit unions and some entities organized under the laws of a sovereign nation (for example) a Native American Tribe or the country of Antigua.

Ohio Payday Lending Regulator (OH)

Regulating Authority
Ohio Division of Financial Institutions
77 South High Street
21st Floor
Columbus, OH 43215

Agency for Handling Complaints
Division of Financial Institutions
Office of Consumer Affairs
77 South High Street, 21st Floor
Columbus , OH 43215
(866)278-0003, (614)728-8400


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