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 regulate the industry. (Jackie Borchardt, cleveland.com)

COLUMBUS, Ohio — Former Ohio home Speaker Cliff Rosenberger used 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, based on two cash advance CEOs and their lobbyists.

The Ohio customer Lenders Association, a combined team of payday loan providers, states Rosenberger stopped their efforts for a compromise on home Bill 123 so he can keep claims to many other financing businesses that objected to your alterations in what the law states. The balance ended up being introduced in March 2017 but languished in a home committee for over a 12 months before advancing without having a single modification. Okumaya devam et “Payday loan providers say ex-Ohio House Speaker Cliff Rosenberger threatened them, delayed bill”