Category Archives: mo payday loans

Advocates of payday financing bill state proposed modifications too industry friendly

Sen. Matt Huffman, standing, chatting with GOP Senate staff in the Ohio Senate Finance Committee on Thursday, where he discussed modifications he’d prefer to make to a cash advance bill. (Laura Hancock,

COLUMBUS, Ohio Advocates for a lending that is payday say proposed legislative modifications talked about in a Thursday Ohio Senate committee hearing arrived directly through the industry’s playbook. Alex Horowitz of this Pew Charitable Trusts, which supports home Bill 123, stated he is heard all of them before. Over last year, whenever H.B. 123 was initially considered, he came across utilizing the payday industry and House Speaker Cliff that is former Rosenberger. Such party that is”interested talks are typically held to attempt to achieve compromises on controversial bills.

“Payday lenders actually proposed a lot of these suggestions to Speaker Rosenberger throughout the home procedure,” Horowitz stated. “I became within the party meeting that is interested. Thus I met because of the loan providers and Speaker Rosenberger. Lenders provided Speaker Rosenberger these tips.”

Sen. Matt Huffman is drafting the proposed modifications to H.B. 123 that he stated will include “cutting side” consumer protection conditions and hopes to own them completed quickly. Continue reading