|
Ashford’s
Bipartisan Predatory Lending Reform Bill to Become Law
House Bill 123 signed by Kasich
State Rep. Michael Ashford (D-Toledo), a joint sponsor of
House Bill 123, today issued the following statement in
response to Gov. Kasich’s signing of the bill to crack down
on predatory short-term lenders in Ohio:
“After years of discussions, false starts and negotiations,
I am proud that predatory lending reform today is becoming a
reality for the consumers and families of Ohio. For the last
decade, predatory lenders have exploited a loophole in Ohio
law and taken advantage of consumers by charging some of the
most outrageous and unfair interest rates and fees in the
nation.
“Our bipartisan reforms in House Bill 123 will ensure
Ohioans can still access short term loans, but in a way
that’s honest, open and fair to working families and
consumers in this state. I applaud Governor Kasich for his
swift signature of this badly needed legislation, and I look
forward to the positive outcomes this effort will have for
generations to come.”
|
