Pew Charitable Trusts to host occasion on Ohio payday lending law

Pew Charitable Trusts to host occasion on Ohio payday lending law

This afternoon, Pew Charitable Trusts will host a meeting in Washington, D.C.focusing on Ohio’s Fairness in Lending Act. Enacted in July 2018, the Act places new limitations on payday advances including mortgage limit, a restriction from the total price of a loan, as well as other structural limitations. The Act can be regarded as a victory that is significant customer advocates using the prospective to be followed through legislation various other states or through ballot initiatives. (Last week, Colorado voters passed a ballot effort that places a 36 percent APR limit on pay day loans.)

During the occasion, Ohio legislators from both edges associated with the aisle, company leaders, advocates, and scientists will discuss the Act. In accordance with Pew’s description regarding the occasion, the subjects includes a conversation of techniques “to advance meaningful reform in other states with payday advances.”

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