Payday Loan News for 05/01/2008



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Ohio lawmakers poised to make nation's toughest caps on payday lender rates (The Toledo Blade)
COLUMBUS EUR” The Republican-led Ohio House plans Wednesday to approve one of the nation's toughest caps on the storefront payday lending industry in the nation. The plan would limit interest rates on such loans at a stunning 28 percent...

Husted vows to pass payday lending reform - Lebanon Western Star

Husted vows to pass payday lending reform
Lebanon Western Star, OH - Apr 29, 2008
. legislation to reform payday lending "that is going to end the cycle of entrapment that consumers who've been using payday loans find themselves in. .
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Payday Lender Presses Charity to End Support for Tighter Rules - Wall Street Journal

Payday Lender Presses Charity to End Support for Tighter Rules
Wall Street Journal - 15 hours ago
The News: Rent-A-Center pressured an Ohio charity to quit a coalition that advocates a crackdown on payday loans. EURą Background: Rent-A-Center, .
Rent-A-Center asks charity to quit coalition -WSJ Reuters
all 4 news articles
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State legislators debate payday lending regulations - Mount Vernon News

State legislators debate payday lending regulations
Mount Vernon News, OH - Apr 28, 2008
Wideners bill would limit borrowers to two payday loans at any given time and limits the total amount to $500 and force borrowers who take out three loans .
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Payday-lending bill advances (The Columbus Dispatch)
A bill that consumer advocates say would become a national model for payday-lending regulation passed a divided Ohio House yesterday, despite industry warnings that it would drive their 1,600 stores out of business...

Problems with payday loan 'solution' - Hillsboro Times Gazette

Problems with payday loan 'solution'
Hillsboro Times Gazette, OH - Apr 29, 2008
Payday loans are one choice out of many financial options for individuals to obtain a loan. The loan is money provided as an advance on a working person's .
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House bill caps payday loans at 28% (The Alliance Review)
COLUMBUS -- The Ohio House passed legislation capping interest rates and adding other regulations to the payday lending industry -- but not before threatening to include a ban on keno gaming in the state...

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Bill to crimp payday lenders (The Cincinnati Enquirer)
The Ohio House passed one of the toughest payday-lending bills in the nation Wednesday despite last-minute political jockeying...

Payday Lending Bill Passes Ohio House (WHIO-TV 7 Dayton)
After months of hearings and debate, the Ohio House of Representatives has passed new regulations to tighten control on payday lenders...

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Payday loans to be slashed (The Cincinnati Enquirer)
COLUMBUS, Ohio -- One of the nation's strictest crackdowns on payday lending set to pass the Ohio House Wednesday would slash customer charges to a fraction of current rates and limit borrowers to four of the short-term loans a year...

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Payday Loans EUR The Good, The Bad, And The Very Ugly - Blogger News Network

Payday Loans EUR The Good, The Bad, And The Very Ugly
Blogger News Network - 16 hours ago
Alas Payday loans do come at a price, and in financial terms it is a userous price. Twenty years ago I worked for one of the top ten banks in the US. .
Law Would Crackdown On Payday Loan Interest Rates WCPO
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Alexandria Tax Plan Targets Payday Loans - Washington Post

Alexandria Tax Plan Targets Payday Loans
Washington Post, United States - Apr 20, 2008
Timothy M. Kaine (D) to legislation approved this year tightening regulation of payday loans. The bill would limit the number of loans a customer could .
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Loophole lets lender skirt law, group says - Chicago Tribune

Loophole lets lender skirt law, group says
Chicago Tribune, United States - Apr 25, 2008
By Stephen Franklin | Tribune Reporter April 25, 2008 When a law governing payday loans took effect more than two years ago, Illinois officials ballyhooed .
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Payday Loans Cost Borrowers Less, Study Finds - Consumer Freedom

Payday Loans Cost Borrowers Less, Study Finds
Consumer Freedom, DC - Apr 30, 2008
(The full study is available here: EURœHidden Consumer Loans: An Analysis of Implicit Interest Rates on Bounced ChecksEUR) This latest study is only one of many .
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Ohio lawmakers want 1 of toughest caps on payday lending (FOX 19 Cincinnati)
COLUMBUS, Ohio (AP) - The Republican-led Ohio House plans Wednesday to approve 1 of the nation's toughest caps on the storefront payday lending industry in the nation. The plan would limit interest rates on such loans at a stunning 28%...

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Lawmakers Targeting Payday Loans - WHIOtv.com

Lawmakers Targeting Payday Loans
WHIOtv.com, OH - Apr 25, 2008
Some consumer advocates said customers often have five to 10 payday loans going at once. While the changes may help consumers, Widener is unsure what it .
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Ohio House passes payday lender law (Cincinnati Business Courier)
The Ohio House on Wednesday approved a bill that caps interest rates on payday loans at 28 percent, the Cleveland Plain Dealer reported...

Ohio House OKs 28% cap on payday loans (The Plain Dealer)
Columbus - An Ohio House payday lending debate full of unexpected twists had one more curve to negotiate Wednesday before lawmakers easily passed the measure capping short-term loans at 28 percent annually...

House passes payday lending bill - Bizjournals.com

House passes payday lending bill
Bizjournals.com, NC - 3 hours ago
Chris Widener, R-Springfield, on Tuesday, would cap annual percentage rates on payday loans at 28 percent, extend the repayment period to 31 days from 14 .
Bill to crimp payday lenders Cincinnati Enquirer
House bill caps payday loan rate Youngstown Vindicator
Will bill spell end of payday lenders? Tiffin Advertiser Tribune
WHIOtv.com - Akron Beacon Journal
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Ohio bill could lower payday loan cap to 28% (Akron Beacon Journal)
COLUMBUS: In a surprise move Tuesday, House Republicans introduced legislation that would cap the annual percentage rate charged on payday loans at 28 percent...



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