December 17

After Ohio Supreme Court Ruling on Pay Day Loans,

After Ohio Supreme Court Ruling on Pay Day Loans,

Following final week’s governing because of the Ohio Supreme Court that undermined legislation to safeguard Ohio consumers from predatory loans, U.S. Sen. Sherrod Brown (D-OH) announced brand brand new efforts to ensure borrowers are protected from predatory loan that is payday. Brown had been accompanied during the Ohio Poverty Law Center by Maya Reed, a Columbus resident whom worked as being a monetary solutions supervisor at a payday lender that is local. Reed talked about techniques employed by payday loan providers to harass consumers that are low-income took away short-term loans to make ends fulfill.

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“Hardworking Ohio families shouldn’t be caught with an eternity of financial obligation after accessing a short-term, small-dollar loan,” Brown stated. Continue reading

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