Pay day loan reform bill gets 2nd hearing in home

Pay day loan reform bill gets 2nd hearing in home

Austinburg Township Fiscal Officer David Thomas testifies ahead of the Ohio House Government Accountability and Oversight Committee on Ohio home Bill 123, built to protect customers from high interest levels and charges on short-term or “payday” loans, Wednesday during the Ohio Statehouse in Columbus.

COLUMBUS

Ohio home legislators heard hours of testimony this week for a bill to restrict interest that is astronomical and charges on short-term loans, igniting debate on whether “payday” lenders provide required advances to underserved consumers or produce “debt traps.”

Austinburg Fiscal Officer David Thomas, a known user of this Ohioans for cash advance Reform Coalition, which formed meant for Ohio home Bill 123, is just one proponent associated with bill.Read more