Payday Loan Reform

It's time to reform Ohio's payday lending system and protect consumers.

In 2016, the Pew Charitable Trusts reported that “Ohio Has the Highest Payday Loan Prices in the Nation.” There is no acceptable reason for this to be the case.

1 in 10 adults in Ohio has taken out a payday loan. This issue therefore impacts hundreds of thousands of Ohioans as well as their families. We cannot expect Ohioans to thrive when they’re being vastly overcharged for loans they would get at much cheaper rates in neighboring states.

It’s time to reform payday lending in Ohio. Joe is a proud supporter of Ohio House Bill 123, a bill to reform payday lending practices in our state.

Joe has pledged to cosponsor this bill when it reaches the Ohio Senate. He will then work to pass it through the Statehouse as quickly as possible.

Joe has also been an outspoken advocate for holding state leaders accountable since it was reported that the Speaker of the Ohio House may have agreed to slow payday lending reform in exchange for campaign contributions.

Joe has made clear that this activity is not only unacceptable, but that the Speaker’s resignation should be the beginning, not the end, of this investigation. Any involvement in a plan to kill legislation based on campaign contributions should lead to serious consequences.

As Governor, Joe will work with experts in the field to continue reforming Ohio’s payday lending system until no one is able to take advantage of Ohio residents again.