Lawmakers just take aim at payday loan industry

Lawmakers just take aim at payday loan industry

Numerous question inner workings of financing sector

Mitchell McFadden along with his spouse, Rena, destroyed to be able to purchase a property and tend to be located in a biweekly hotel that is rental. Pay day loan loan providers are demanding which he repay $2,400 he owes. MARY ANN CHASTAIN/ASSOCIATED PRESS

COLUMBIA, S.C. — Soft music plays when you look at the history of a new television advertising campaign because it urges people to utilize pay day loans limited to emergencies. One scene shows a broken-down automobile. Another depicts a boy in a physician’s workplace, their supply in a sling.

“Please borrow just everything you feel comfortable trying to repay if it is due,” states Darrin Andersen, president for the Community Financial solutions Association. a brand new emblem will inform borrowers which loan providers meet trade team needs. Read More

Payday advances, guns among stalled problems at Ohio Statehouse

Payday advances, guns among stalled problems at Ohio Statehouse


COLUMBUS, Ohio (AP) — Ohio’s Legislature is on summer time break following a flurry of task that included passage through of a large number of bills, many delivered to the governor, and some key proposals kept in limbo.

The speed of this action had been accelerated because a stalemate over that would be successful Republican Cliff Rosenberger as presenter when you look at the homely house prevented it from moving any bills for days.

Listed here is a review of where things stay:

On the final time, June 27, lawmakers delivered 19 bills to Republican Gov. John Kasich handling subjects from algal blooms to voting devices.

A investing measure delivered to the governor allots $20 million towards the soils and water phosphorus program that can help fight harmful blooms that are algal Lake Erie. Another $3.5 million ended up being specialized in soil and water preservation districts. Lawmakers additionally delivered $7 million in tragedy capital to 18 counties afflicted with flooding.

Another bill releases the $114.5 million essential to assist county panels of elections purchase brand new voting gear. The timing had been vital to have the devices set up in time for a test run in 2019 prior to the 2020 election that is presidential.

Republican Secretary of State Jon Husted had called on Kasich and state lawmakers in December to offer state economic help to modernize the machines.

Another bill expands the menu of offenses which can be expunged through the criminal history records of people that are also victims of individual trafficking.


Probably the many significant legislation left unresolved as lawmakers headed down for summer time break had been a bill reforming Ohio’s payday lending rules. The legislation would cap interest levels on short-term loans and enforce other restrictions. Read More