US set to adopt rules to curtail payday lending

Canton, Ohio

THIS city of 73,000 is known for a few things - the Pro Football Hall of Fame, the presidential library of William McKinley and a lively downtown arts scene.

But in banking circles, it has gained a more distinct reputation: Canton is a nexus of the payday lending industry, in which people who have trouble making ends meet from one pay cheque to the next take out high-interest loans from speciality lenders.