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 relax regulations on payday lenders won’t put the brake system on Ohio’s newly adopted defenses for payday lending clients, though it shall reduce steadily the defenses Ohio consumers get under federal legislation.

Payday financing laws that Ohio adopted a year ago are more strict, in a lot of respects, than guidelines that the buyer Financial Protection Bureau (CFPB) adopted in 2017 to help keep low-income borrowers from being caught in a period of financial obligation, claims previous CFPB manager Richard Cordray. Leggi tutto “Federal improvement in payday financing limitations won’t undermine Ohio legislation”