‘Clean’ payday lending reform bill heads to OH House floor

THE INVESTIGATION IS STILL ONGOING MARK: THE FIGHT TO REFORM PAYDAY LENDING HAS BEEN GOING ON FOR YEARS

BUT NOW THERE'S NEW LEGISLATION MOVING FORWARD THAT COULD CLOSE LOOPHOLES LEFT OPEN BY A LAW IN 2008 OHIO STATEHOUSE NEWSROOM REPORTER JASON AUBRY EXPLAINS THE SIGNIFICANCE BEHIND TODAY'S VOTE JASON AUBRY: "WHEN A BILL PASSES OUT OF COMMITTEE WITHOUT AMENDMENTS IT'S OFTEN REFERRED TO AS A "CLEAN" BILL, TODAY THAT PHRASE MAY HOLD ADDITIONAL MEANING WITH HOUSE BILL 123

" SUPPORTERS OF THE BILL ARE THRILLED WITH TODAY'S VOTE DANUTE VAN BEYSTERVELDT / SUPPORTER OF THE BILL: "I FEEL EXTREMELY PLEASED, SURPRISED AND VERY PLEASED BECAUSE IT HAD LANGUISHED FOR SO LONG" PART OF THE REASON FOR THE DELAY WERE MONTHS OF TALKS BETWEEN PAYDAY LENDERS AND HOUSE LEADERSHIP NOT THE BILL'S SPONSOR — AS THEY SAY THEY WERE TRYING TO NEGOTIATE A COMPROMISE TED SAUNDERS / OHIO CONSUMER LENDERS ASSOC: "WE CAME TO THE TABLE IN HOPES OF CRAFTING A LONG TERM FRAMEWORK FOR THE STATE OF OHIO WITH CONSUMER FINANCE LEGISLATION

" BUT THE RECENT RESIGNATION OF SPEAKER CLIFF ROSENBERGER HAS CAST A SHADOW OF DOUBT OVER THIS AND OTHER BILLS THAT HE MAY HAVE HAD A HAND IN REP KYLE KOEHLER / HOUSE DISTRICT 79 : "I THINK THE GOVERNMENT ACCOUNTABILITY AND OVERSIGHT COMMITTEE DID A WONDERFUL JOB TODAY IN MAKING THAT A MUTE POINT WE PASSED THE BILL AS INTRODUCED; WE'RE STARTING WITH A CLEAN SLATE" ATTEMPTS WERE MADE TODAY TO ADD AMENDMENTS TO THE BILL BUT THOSE ATTEMPTS FAILED LEAVING PAYDAY LENDERS TO INEVITABLY LOOK TO STATE SENATORS FOR HELP NEXT

TED SAUNDERS / OHIO CONSUMER LENDERS ASSOC: "I'M JUST SUGGESTING THAT WE PICK UP THE INTERESTED PARTY CONVERSATION WHERE THEY WERE BECAUSE WE CERTAINLY HAD MADE SOME AGREEMENTS BECAUSE I SAW THEM IN THE AMENDMENT LAST WEEK, WE WERE GETTING THERE" MEANWHILE, SUPPORTERS OF THE BILL REMAIN WARY OF THE PAYDAY LOAN LOBBY DANUTE VAN BEYSTERVELDT / SUPPORTER OF THE BILL: "WE NEED TO KEEP A CLOSE EYE ON THIS // BECAUSE IT COULD EASILY BE CHANGED TO SOMETHING THAT TOTALLY NOT WHAT WE WERE LOOKING FOR IN THE FIRST PLACE" JASON AUBRY: "SOME OPPONENTS OF THE BILL SAY THE HOUSE IS JUST PASSING THE BUCK TO THE SENATE

AT THE STATEHOUSE JASON AUBRY, NBC4"