The city council of Cleveland Heights is voting on payday-loan issues again. The council plans one vote to lift a year-old moratorium on new businesses that offer payday-style loans but are not licensed under the Ohio’s Short-Term Loan Act (STLA), reports The STLA caps interest rate on loans at 28 percent. In the article, City Manager Tanisha Briley “said the city is forced to lift the moratorium after the Ohio Supreme Court in June ruled companies could issue payday loans using a mortgage lending license.” (See more about this in our June 12, 2014 blog post.) A mortgage lending license allows lenders to charge triple-digit interest rates. The city council will also vote on a resolution that asks the Ohio state legislature “to require all payday lenders to operate under the Short-Term Loan Act.” For more, read the full article.