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payday lending

If you're poor or low-income in the U.S. and use government safety net programs, you could be affected by a number of new rules and actions proposed by the Trump administration. Most of the changes are still pending, and anti-poverty groups are trying to stop them from going into effect. Some of the proposals already face legal challenges.

During a recent lunch hour in Springfield, Va., a medical assistant named Angela walked into a branch of Advance America at a strip mall and asked for a loan. She'd borrow $300 and promise to pay it back within 30 days, with an additional $73 in interest and fees.

This loan would help cover a family trip to New York, said Angela, who asked NPR not to use her last name for privacy reasons. She says she prefers payday loans because she doesn't trust herself with credit cards and she would rather not approach her family for help.

The Consumer Financial Protection Bureau is targeting one of the hallmarks of the Obama administration: a rule that would protect the most vulnerable borrowers from the ballooning debt that can accrue with payday loans.

The rule never actually took effect. And now the consumer protection bureau is proposing to take it off the table.

The agency's chief, Kathy Kraninger, said in a statement that pulling back the rule would encourage competition in the payday lending industry and help improve credit options for borrowers in need.

Supporters of a bill that reform payday lending gather at the Ohio Statehouse.
Andy Chow / Ohio Public Radio

Controversial bills involving abortion, gun rights and pay raises for elected officials passed by lawmakers during the lame duck session. Some might be vetoed by Gov. John Kasich, and the legislature might come back after Christmas to override them.

Former Ohio House Speaker Cliff Rosenberger
Ohio House

Former House Speaker Cliff Rosenberger and several payday lending lobbyists are named in a federal search warrant seeking evidence of potential bribery and kickbacks.

payday lending sign
Tony Webster / Flickr

Gov. John Kasich has signed into law a proposal cracking down on Ohio's short-term lending industry.

Ohio House

The Ohio House on Tuesday agreed with the Senate’s changes to a payday lending overhaul, sending the final bill to the governor’s office. Legislators voted 61-24 to approve the legislation, a relatively easy end to a contentious and often surprising political saga.

Karen Kasler / Statehouse News Bureau

State representatives plan on returning to Columbus this week to vote on the long-awaited payday lending bill. The legislation, if passed, would overhaul the way the industry is regulated in Ohio.

Nick Castele / ideastream

Credit unions are disagreeing with claims that they will directly benefit from a new bill that’s written to crack down on the payday lending industry. As the credit unions argue, they’re already operating from a different, tough set of rules.

payday lending sign
Tony Webster / Flickr

A bill to overhaul the payday lending industry in Ohio is heading back to the House after the Senate approved the legislation with some changes. Consumer advocates are touting this as sensible reform while lenders argue this will put them out of business.

Nick Castele / ideastream

The Ohio Senate is introducing changes to a payday lending crackdown that passed the House by a big margin. Supporters of the legislation say it will help shutdown predatory lending and a cycle of debt.

Rep. Smith speaks during Ohio House session on April 11, 2018.
Ohio House

The Ohio General Assembly is on summer break after a flurry of activity that included passage of dozens of bills, many sent to the governor, and a few key proposals left in limbo.

US Supreme Court
Joe Ravi / Wikimedia commons

In this week's Snollygoster, Ohio's political podcast from WOSU Public Media, we discuss the Supreme Court's decision on public employee unions and the possible conflicts of interest in the sexual harassment investigation of state Sen. Bill Seitz.

payday lending sign
Tony Webster / Flickr

Ohio's Senate leader says senators won't be able to pass a payday lending bill before breaking for the summer.

payday lending sign
Tony Webster / Flickr

A national group that says Ohio’s payday lending rates are the highest in the nation came out strongly against possible changes to a bill that would crack down on the industry.

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