OH Legislature Passes HB 123 July 26, 2018 On Tuesday, the Ohio House voted to send HB 123, which tightens regulations on payday lending, to Gov. John Kasich. On Wednesday, Kasich commented that he will most likely sign the bill into law. The bill was introduced in March 2017, not long after Pew Charitable Trusts released a study in December 2016 that reported that Ohio had the highest interest rates on payday loans, with an average interest and fees reaching 591%. The bill notably sets a 28 percent APR cap, limits loan amounts to $1000 and the life of a loan to one year, among limits on other fees and practices. AFSA commented on the bill in March.