After a defeat at the polls during the November election this year, another payday lender is now forced to close down some of its Ohio stores. Tenneesee-based Check Into Cash said it will close 32 of its 92 Ohio stores within the first two weeks of December.

45 workers will be let go during the closings. The stores' landlords haven't yet been notified, so Check Into Cash isn't yet revealing publicly which stores will close. Employees, however, have been notified.

The remaining 60 Check Into Cash stores in Ohio will operate under the Ohio Small Loan Act. This allows lenders to charge a $15 origination fee on loans up to $500 and $30 for loans above that amount, in addition to annual interest of 28 percent. Check Into Cash President Steve Scoggins said in a statement that they haven't ruled out additional closings.

Check Into Cash's decision to close more than 1/3 of their Ohio stores comes just two weeks after 64% of Ohio voters cast ballots in favor of Issue 5, which supports a law that would cap interest rates payday lenders can charge under current licenses at 28% per year.

The payday lending industry fought hard to repeal portions of the law, House Bill 545. They had hoped to return to a rate structure that allowed them to charge an annualized 391% interest rate.

Check Into Cash isn't the first to announce closings in Ohio following the defeat at the polls. Texas-based Cash American International Inc. announced just one day after the election that it would close down 43 of its 140 stores in Ohio, and Check 'n Go said that it would close half of its 71 Ohio stores over the next several months.