payday lenders

Woman holding sign with "591" crossed out
Andy Chow / Statehouse News

Advocates pushing for a crackdown on payday lenders are one step closer to getting their reform proposal on the November ballot. The group says they’re tired of waiting on lawmakers to act, so they’re going straight to the voters. 

Ohioans for Payday Loan Reform delivered their first batch of petitions to the attorney general’s office. The proposed ballot issue would cap the interest rates of payday loans at 28 percent.

A photo of signs being held at a payday lending reform rally

The group pushing for payday lending reform is taking their fight outside of the Statehouse and to Ohio voters. Advocates hope to put an issue that caps interest rates on the ballot 

Community leaders say they’re tired of waiting for lawmakers to cap the interest rates for payday loans, which can reach as high as 600 percent.

photo of Sherrod Brown

Ohio’s U.S. Sen. Sherrod Brown says he believes Congress is ready to address the immigration-status of young adults brought here as children. And he doesn’t think the issue needs to be part of a deal to keep the government open past Friday.

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.

Kyle Koehler

A bipartisan bill that would crack down on Ohio’s 650 payday lenders has received its first hearing in the House.