H.B. 123

Andy Chow / Statehouse News Bureau

After months of sitting in limbo, an Ohio House bill to crackdown on skyrocketing payday lending interest loans might see some movement. The next step is to evaluate the lasting outcomes.

In spite of previous reforms, some payday loan interest rates have approached 600 percent. A bill that would cap rates at 28 percent got its first committee hearing last week. Republican House Speaker Cliff Rosenberger says there are some sticking points to work out.