Progress Ohio | Dave Harding's Blog: Video: HB 545 Payday Lending Legislation Signing: Opening Remarks By Chris Widener (R) District 84

Video: HB 545 Payday Lending Legislation Signing: Opening Remarks By Chris Widener (R) District 84

By Dave Harding, ProgressOhio - Jun 2nd, 2008 at 2:52 pm EDT

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Watch it:

Thanks to you, Ohio is putting a stop to unfair lending practices that trap borrowers in a cycle of debt.

House Bill 545:

Caps the annual percentage rate on payday loans at 28 percent, down from the current maximum of 391 percent
Requires that loan terms be at least 31 days
Bans internet payday lending

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