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 defenses Ohio consumers get under federal legislation.
Payday lending laws that Ohio adopted year that is last more strict, in several respects, than guidelines that the customer 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. (more…)