TRO ISSUED ENJOINING OHIO CHECK CASHING RULE

The Franklin County Court of Common Pleas issued a temporary restraining order (TRO) enjoining enforcement of Rule 1301:8-8-04(C)(5) issued under the Ohio Check Cashing statute by the Division of Financial Institutions with a May 1, 2010 effective date. The provision of the rule subject to the TRO would have prohibited licensed check cashing businesses from charging or collecting a fee to cash a check issued by the check cashing business or an affiliate of the check cashing business in connection with a loan. The TRO prevents the Division from enforcing the provision of the rule until a hearing on the request for a preliminary injunction is held. The hearing should be held within the next 14 days. A copy of the TRO is attached.

• Darrell Dreher and Elizabeth Anstaett