Pew Charitable Trusts

payday loans protest
ANDY CHOW / STATEHOUSE NEWS BUREAU

Community groups rallied to show their support for a bipartisan bill they think is needed to slow predatory lending in Ohio. 

The bill would cap the interest rate of payday lenders at 28 percent and close any loopholes around that cap. In spite of previous reforms, some of those loans have interest rates approaching 600 percent.

New Payday Lending Rules May Not Help Ohio

Oct 9, 2017
Taber ANdrew Bain / Flickr

New rules issued this past week by the federal Consumer Financial Protection Bureau are meant to rein in payday and auto title lenders. The rules require enhanced credit checks for some loans and cooling off periods after three loans in a row to a single borrower.

photo of Gov. Kasich rainy day funds
KAREN KASLER / STATEHOUSE NEWS BUREAU

There’s been a lot of discussion about when or if to use the $2 billion in the state’s rainy day fund. A national group has studied the impact of using rainy day funds in budget crises.

photo of David Draine
PEW CHARITABLE TRUSTS

State pension systems are underfunded by more than a trillion dollars nationwide, according to a new report. And taxpayers would have to make up that shortfall. But Statehouse correspondent Karen Kasler reports the study has some good news for Ohio.

photo of Monopoly house and coins
WKSU

Nearly nine years after Ohio lawmakers passed—and voters upheld— a crackdown on payday loan businesses, people are still borrowing from quick-cash lenders. And the lenders are still charging huge interest rates. Statehouse correspondent Karen Kasler says another proposal to regulate the industry is back before legislators.

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