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Payday loan providers say ex-Ohio House Speaker Cliff Rosenberger threatened them, delayed bill

June 24, 2020

Payday loan providers say ex-Ohio House Speaker Cliff Rosenberger threatened them, delayed bill

A faction of cash advance companies state previous home Speaker Cliff Rosenberger ended up being in charge of delaying a bill that will manage the industry. (Jackie Borchardt, cleveland.com)

COLUMBUS, Ohio — Former Ohio home Speaker Cliff Rosenberger utilized strong-arm strategies to tank a bill to regulate the pay day loan industry, including threatening loan providers that had been attempting to focus on a compromise with reform advocates, in accordance with two cash advance CEOs and their lobbyists.

The Ohio Consumer Lenders Association, number of payday loan providers, states Rosenberger stopped their efforts for the compromise on home Bill 123 so he will keep promises with other financing organizations that objected to virtually any alterations in what the law states. The balance ended up being introduced in March 2017 but languished in a home committee for more than a 12 months before advancing with no change that is single.

“He had been telling people and editorial panels which he preferred reform while telling particular lobbyists and their customers which he would avoid any reform from using put on their watch, ” relationship members Ted Saunders and Cheney Pruett had written in a might 15 page to Rep. Niraj Antani, which cleveland.com obtained through a general public records request.

Relationship lobbyists Neil Clark and Jeff Jacobson corroborated the activities outlined into the page in interviews.

Rosenberger, a Clarksville Republican, resigned in April amid states the FBI ended up being asking questions regarding a journey he took to London in August, where he had been followed closely by lobbyists for the short-term financing industry. (more…)