Nate Coffman on In Focus with Mike Kallmeyer

Yesterday, our executive director, Nate Coffman was on In Focus with Mike Kallmeyer to talk about Ohioans for Payday Loan Reform and the statewide citizens initiative to get a ballot measure in November combating predatory lending in Ohio. 

Payday loans in Ohio are the most expensive in the nation, with an astounding typical annual percentage rate (APR) of 591%.

Ten years ago, Ohioans voted by a nearly 2:1 margin to implement reasonable reform to the payday lending industry, but that language had a loophole, which allowed the predatory lending industry to go unchecked in Ohio.

On a federal level, the Consumer Finance Protection Bureau is continuing to drop cases regarding outrageous practices of payday lenders. That is why we need real reform now.

Watch the nearly eight minute video.

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