© 2024 Ideastream Public Media

1375 Euclid Avenue, Cleveland, Ohio 44115
(216) 916-6100 | (877) 399-3307

WKSU is a public media service licensed to Kent State University and operated by Ideastream Public Media.
Play Live Radio
Next Up:
0:00 0:00
Available On Air Stations

GOP Fight Over Ohio House Leadership Derails Payday Lending Reform

photo of CashMax building

The Ohio House was forced to cancel session as Republicans failed to reach an agreement on who should be the next House speaker. The cancellation means more than a dozen bills that were set for a vote were delayed. That includes a long-drawn-out bill that would overhaul and crack down on the payday lending industry.

Payday lenders and their opponents were both preparing to rally support at the Statehouse before this week’s House session -- until news spread that the session was canceled. The bill creates strict regulations to help keep interest rates low. 

Carl Ruby, a consumer advocate in favor of the bill, says the delay is discouraging.

“I think that’s just a taste of how politics work, it’s hard to move things forward. There are a million ways to stop good legislation from taking place,” Ruby said.

The Ohio Consumer Lenders Association, which represents the payday industry, says it supports reform but argues the current bill would force storefronts to close.

Andy Chow is a general assignment state government reporter who focuses on environmental, energy, agriculture, and education-related issues. He started his journalism career as an associate producer with ABC 6/FOX 28 in Columbus before becoming a producer with WBNS 10TV.