Pew Charitable Trusts to host occasion on Ohio payday lending legislation

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 puts new limitations on payday advances including mortgage cap, a limit in the total price of a loan, as well as other structural limitations. The Act can be considered a significant triumph for customer advocates aided by the possible become followed through legislation various other states or through ballot initiatives. (a week ago, Colorado voters passed a ballot effort that places a 36 % APR limit on payday advances.)

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

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