Payday financing reform bill prepared to advance in Ohio Senate

Payday financing reform bill prepared to advance in Ohio Senate

State senators evidently hit a deal for a contentious payday lending reform bill not everybody is pleased: customer advocates are cheering but industry insiders are jeering.

Nick Bourke, manager of customer finance when it comes to Pew Charitable Trusts, told senators that the bill that is new attain real pay day loan reform and save yourself working Ohioans tens of vast amounts per year — and protect usage of credit.”

People in the Ohio customer Lenders Association reported they alleged that Pew is colluding with Dayton-based Wright-Patt Credit Union to put payday lenders out of business that they were cut out of negotiations on the latest version of the bill and. […]