Yesterday, United States Senators Sherrod Brown (D-OH), Chris Van Hollen (D-MD), and U.S. Rep. Chuy Garcia (D-IL) announced their intention to introduce a Congressional Review Act to repeal the so-called True Lender Rule. The Office of the Comptroller of the Currency regulation allows payday lenders to evade state interest rate
Chairman Wilson, Vice Chairman Hottinger, Ranking Member Maharath, and members of the Ohio Senate Financial Institutions and Technology Committee, thank you for the opportunity to offer testimony on Senate Bill 62. My name is Kalitha Williams and I am the project director of asset building at Policy Matters Ohio, a
Chairman Jordan, Vice Chairman Ferguson, Ranking Member Crossman, and members of the Ohio House Financial Institutions Committee, thank you for the opportunity to offer testimony on House Bill 133. My name is Kalitha Williams and I am the project director of asset building at Policy Matters Ohio, a nonpartisan research
As Ohioans work to rebuild our economy in the face of the COVID-19 pandemic, policy makers should make an investment in the state earned income tax credit (EITC), a proven strategy, to help Ohio families recover. The Ohio EITC is based on the federal EITC, which is the nation’s most
Organization marks 15th EITC Awareness Day Today marks the 15th annual Earned Income Tax Credit (EITC) Awareness Day. Organized by the IRS, advocates, officials and service providers across the country are making sure that working people who are paid low wages know about the credit, and how it helps them
Introduction Everyone deserves the chance to pursue a better future for themselves and their loved ones, no matter how much they’re paid. But certain financial corporations have rigged the rules against Ohioans, and the families who pay the price are often the ones who can least afford it. For over
A 2018 law has helped protect Ohioans who turn to certain kinds of short-term loans to get through an emergency. However, unethical financial corporations found new ways to profit by trapping borrowers in a cycle of debt, a new Policy Matters Ohio report shows. “Everyone deserves the chance to pursue
Good Morning Chairman Hackett, Vice Chairman Hottinger, Ranking Member Craig and members of the Ohio Senate Insurance and Financial Institutions Committee. My name is Kalitha Williams and I am the project director of asset building at Policy Matters Ohio, a nonprofit, nonpartisan organization with the mission of creating a more
The Ohio Senate Insurance and Financial Institutions Committee today voted to pass legislation that will dismantle the Ohio Debt Adjuster’s Act, which regulates for-profit debt settlement companies. Debt settlement companies claim to help consumers reduce their debts, but investigations from both Republican and Democratic led federal and state consumer protection
Governor DeWine’s administration can help with aggressive outreach About 12 million Americans – including nearly 400,000 in Ohio alone – risk missing out on the federal stimulus payments provided through the recent CARES Act if they don’t file a form to receive it, according to a report from the Center
36% interest rate cap would protect Ohio families Today, the Consumer Financial Protection Bureau (CFPB) eliminated hard-won consumer protections, leaving Ohio families exposed to exploitative payday lending. The CFPB issued a final rule that guts the agency’s own 2017 Payday Rule, which required lenders verify a borrower’s ability to repay
Updated 10/12/2020 with new information for people that have not yet claimed their Federal Stimulus Payment and people who are incarcerated: The IRS has extended the deadline for people that do not normally file income taxes to claim their stimulus payments to November 21, 2020. People that do not file
