Nation news digest: 350,000 households fail to receive IRS refunds

NATION

350,000 households fail to receive IRS refunds

WASHINGTON — The Internal Revenue Service says up to 350,000 households didn’t get their $300 per child refund that should have been part of their economic stimulus rebate checks.

The tax agency says human error and computer glitches were responsible for the problem affecting a tiny percentage of the 130 million taxpayers expected to benefit from the paybacks.

The agency plans to mail out checks in July to those who missed out on the child refund.

OHIO

Cash America considers closing stores in state

COLUMBUS — Cash America International, which operates about 139 check-cashing and short-term loan stores in Ohio, may close the stores in response to legislation that would restrict payday lending, the company said Thursday.

The Fort Worth, Texas-based Cash America, parent company of Cashland stores, said it is reviewing its options and anticipates closing the stores only if the legislation is enacted into law and the company can find no way to offer alternative financial services that would cushion the impact of the law.

The announcement came after the state Senate approved a bill that would limit borrowers to four short-term loans a year and cap annual interest rates at 28 percent.

Associated Press