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Pay day loan bill would protect Ohioans from predatory loan providers: State Rep. Kyle Koehler (Opinion)

Pay day loan bill would protect Ohioans from predatory loan providers: State Rep. Kyle Koehler (Opinion)

Cash advance bill would protect Ohioans from predatory loan providers: State Rep. Kyle Koehler (Opinion)

COLUMBUS, Ohio – to ensure that federal government to be good, it should be efficient, are powered by the facts, and promote public security. This is the reason We have worked with Ohioans from throughout the ideological range, including borrowers, business people, and faith leaders, to advance (HB 123). It really is a bipartisan, compromise method of reforming Ohio’s onerous pay day loan legislation. The bill is supported by considerable research and means that the pay day loan industry in Ohio won’t be eliminated. It will probably keep credit available and enable lenders that are responsible offer safe, affordable loans, because they do under comparable laws and regulations somewhere else. It offers the help of neighborhood governments, veterans’ organizations, and customer teams.

But considering that the bill had been introduced a lot more than last year, the cash advance lobby did everything with its capacity to block this necessary legislation.