Is bad or good for Borrowers?

We stand together to oppose the agency’s proposition to end the utilization of the payday and car title lending guideline. Ohioans have already been exploited by payday financing and we also assert that the 2017 proposed rule to modify the industry simply just take effect without further wait.

Ohio gets the most high-priced and abusive pay day loans in the united states with borrowers spending over $500 million per year in charges to payday loan providers. Borrowers trapped in a period of financial obligation are charged extortionate overdraft charges, have actually their bank records closed, face bankruptcy, and obtain their automobiles repossessed. Continue reading →