Pay day loans provide a service for a number of American people, it has been suggested.

Those whose situations make it difficult or impossible for them to take out credit cards or bank loans can gain access to funds they need by taking out these products, according to the Intelligencer - Wheeling News Register.

Commenting on possible moves by Ohio legislators to place a cap on interest rates set by pay day loan operators in the state, the publication said that the consequences could affect consumers in a negative way.

"If that limit becomes law ... it undoubtedly will dry up a source of credit on which some Buckeye State residents depend," it said.

The newspaper also claimed that those setting the laws in the state are potentially more interested in making voters happy than they are in "enacting reasonable limits on pay day lenders".

Pay day loan lenders are often referred to as check cashers or deferred-deposit lenders. They can help those who need money quickly to see them through to their next paycheck.

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