Ohio's Short-Term Loan Act restricts what payday lenders can charge and prohibits them from engaging in certain abusive lending practices. Ohio's payday lending law is one of the best in the nation when it comes to protecting consumers. Car Title Loan Collection Laws Ohio is one of the 24 states that permits pay day lending. This means the institution of pay day lending, also known as cash advance lending, is regulated by a state board. All pay day lenders must register with the state and uphold the state laws to stay in business.