Payday lenders may close stores in Ohio

The Ohio House must still approve the bill. Republican House Speaker John Husted said he expects it to be an easy step, and Democratic Gov. Ted Strickland supports the measure.

If no suitable alternative product is found, Cash America said it expects its Ohio locations to begin closing as early as mid-August, depending upon when the bill is signed into law.

Howard Wagner, 46, of Peebles, opposes the state imposing restrictions on the centers, saying they perform a valuable service.

He said he recently cashed a $2,300 insurance check at one of the lending centers and was charged about $150.

"We didn't have the amount in our bank account to cover how much the check was so we had no choice but to go there and give them the money to cash the check," he said. "We needed the money right now. We couldn't deposit it and wait 10 days to get the money."