Payday loan providers say ex-Ohio House Speaker Cliff Rosenberger threatened them, delayed bill

Payday loan providers say ex-Ohio House Speaker Cliff Rosenberger threatened them, delayed bill

A faction of cash advance businesses state previous home Speaker Cliff Rosenberger ended up being accountable for delaying a bill that will control the industry. (Jackie Borchardt, cleveland.com)

COLUMBUS, Ohio — Former Ohio home Speaker Cliff Rosenberger utilized strong-arm strategies to tank a bill to manage the cash advance industry, including threatening loan providers that had been wanting to work with a compromise with reform advocates, in accordance with two pay day loan CEOs and their lobbyists.

The Ohio customer Lenders Association, a combined number of payday loan providers, claims Rosenberger stopped their efforts for the compromise on home Bill 123 so he will keep claims to other financing businesses that objected to your alterations in what the law states. The bill had been introduced in March 2017 but languished in a residence committee for more than a 12 months before advancing without having a single modification. Continue reading “Payday loan providers say ex-Ohio House Speaker Cliff Rosenberger threatened them, delayed bill”