Following final weekвЂ™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.
вЂњHardworking Ohio families shouldnвЂ™t be caught with an eternity of financial obligation after accessing a short-term, small-dollar loan,вЂќ Brown stated. Continue reading