Federal improvement in payday financing limitations won’t undermine Ohio legislation

Federal improvement in payday financing limitations won’t undermine Ohio legislation

WASHINGTON, D.C. – A Trump management drive to flake out regulations on payday lenders won’t put the brake system on Ohio’s newly adopted defenses for payday lending clients, though it will decrease the protections Ohio customers get under federal legislation.

Payday financing laws that Ohio adopted this past year are more strict, in lots of respects, than rules that the buyer Financial Protection Bureau (CFPB) adopted in 2017 to help keep low-income borrowers from being caught in a cycle of financial obligation, claims previous CFPB manager Richard Cordray. 继续阅读“Federal improvement in payday financing limitations won’t undermine Ohio legislation”