Ohio payday loan law changes face political challenges

According to some sources [35] the USPS Board of Governors could authorize these services under the same authority with which they offer money orders now. D A licensee may rely on the information contained in the database as accurate and is not subject to any administrative penalty or civil liability as a result of relying on inaccurate information contained in the database. I "Consumer report" and "consumer reporting agency" have the same meanings as in the "Fair Credit Reporting Act. H "Actuarial method" means the method of allocating payments made on a loan between the principal amount and interest whereby a payment is applied first to the accumulated interest and the remainder to the unpaid principal amount. K Fail to comply with section Exclusion, Exploitation, and the Threat to Democracy.

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Ohio's payday lending law is one of the best in the nation when it comes to protecting consumers. Unfortunately, Ohio's payday lenders have found a loophole in the law, and as a result Ohio residents pay some of the highest payday loan rates in the country. Payday loan laws in Ohio. Status: Legal (Ohio Rev. Code Ann. et seq.). No payday loan may have a minimum term of less than 13 days and does not exceed days. Except for an installment payday loan, no payday loan may be made to a consumer if the loan would result in the consumer being indebted to one or more payday lenders for a period in excess of 45 consecutive days.

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Although borrowers typically have payday loan debt for much longer than the loan's advertised two-week period, averaging about days of debt, most borrowers have an accurate idea of when they will have paid off their loans. The effect is in the opposite direction for military personnel. Job performance and military readiness declines with increasing access to payday loans. Payday loans are marketed towards low-income households, because they can not provide collateral in order to obtain low interest loans, so they obtain high interest rate loans.

The study found payday lenders to target the young and the poor, especially those populations and low-income communities near military bases.

The Consumer Financial Protection Bureau states that renters, and not homeowners, are more likely to use these loans. It also states that people who are married, disabled, separated or divorced are likely consumers. This property will be exhausted in low-income groups.

Many people do not know that the borrowers' higher interest rates are likely to send them into a "debt spiral" where the borrower must constantly renew. A study by Pew Charitable research found that the majority of payday loans were taken out to bridge the gap of everyday expenses rather than for unexpected emergencies. The Center for Responsible Lending found that almost half of payday loan borrowers will default on their loan within the first two years.

The possibility of increased economic difficulties leads to homelessness and delays in medical and dental care and the ability to purchase drugs.

For military men, using payday loans lowers overall performance and shortens service periods. Based on this, Dobbie and Skiba claim that the payday loan market is high risk. The interest could be much larger than expected if the loan is not returned on time. A debt trap is defined as "A situation in which a debt is difficult or impossible to repay, typically because high interest payments prevent repayment of the principal. The center states that the devotion of percent of the borrowers' paychecks leaves most borrowers with inadequate funds, compelling them to take new payday loans immediately.

The borrowers will continue to pay high percentages to float the loan across longer time periods, effectively placing them in a debt-trap. Debtors' prisons were federally banned in , but over a third of states in allowed late borrowers to be jailed. In Texas, some payday loan companies file criminal complaints against late borrowers.

Texas courts and prosecutors become de facto collections agencies that warn borrowers that they could face arrest, criminal charges, jail time, and fines. On top of the debts owed, district attorneys charge additional fees. Threatening to pursue criminal charges against borrowers is illegal when a post-dated check is involved, but using checks dated for the day the loan is given allows lenders to claim theft.

Most borrowers who failed to pay had lost their jobs or had their hours reduced at work. From Wikipedia, the free encyclopedia. Retrieved October 23, Retrieved August 27, Consumer Financial Protection Bureau.

Retrieved January 22, Tribal Immunity and Internet Payday Lending". Archived from the original on July 26, Retrieved November 7, An Effective Consumer Protection Measure".

Retrieved June 14, Archived from the original PDF on March 21, Retrieved March 22, Archived from the original PDF on July 16, Retrieved October 3, Archived from the original on September 20, Credit Markets for the Poor. How the Other Half Banks: Exclusion, Exploitation, and the Threat to Democracy.

United States of America: Welcome to the birthplace of payday lending". Retrieved January 7, Retrieved June 13, Will Anything Better Replace It? Proponents argue that the working poor need payday loans to cover their bills, while opponents argue that they trap borrowers in a cycle of debt. However, payday lenders found a loophole: They registered as mortgage lenders instead.

The Ohio Supreme Court upheld the law in , prompting one concurring judge to ask, "Were the lobbyists smarter than the legislators?

Did the legislators realize that the bill was smoke and mirrors and would accomplish nothing? Ohio is the only state where lenders operate under such a statute that was not intended for payday loans, said Alex Horowitz, senior research officer for Pew Charitable Trust's consumer finance project, which has researched payday laws in the states for many years.

But it did find that borrowers were charged much more than their peers in many other states. No other state had a higher rate, according to the Pew analysis. While the typical loan is technically two weeks, in the majority of cases the borrower ends up in a cycle of loans for several months. The superintendent shall approve an application and issue an original or renewal license to the applicant if the superintendent finds all of the following: The applicant's net worth shall be computed according to generally accepted accounting principles.

However, if the applicant or any of those other persons has pleaded guilty to or been convicted of any such offense other than theft, the superintendent shall not consider the offense if the applicant has proven to the superintendent, by a preponderance of the evidence, that the applicant's or other person's activities and employment record since the conviction show that the applicant or other person is honest, truthful, and of good reputation, and there is no basis in fact for believing that the applicant or other person will commit such an offense again.

C If the superintendent finds that the applicant does not meet the requirements of division B of this section, or the superintendent finds that the applicant knowingly or repeatedly contracts with or employs persons to directly engage in lending activities who have been convicted of a felony crime listed in division B 5 of this section, the superintendent shall issue an order denying the application for an original or renewal license and giving the applicant an opportunity for a hearing on the denial in accordance with Chapter The superintendent shall notify the applicant of the denial, the grounds for the denial, and the applicant's opportunity for a hearing.

If the application is denied, the superintendent shall return the annual license fee but shall retain the investigation fee. D No person licensed under sections The bond shall be in favor of the superintendent and in the penal sum of at least one hundred thousand dollars, or in the case of a nonprofit corporation that is incorporated under Chapter The term of the bond shall coincide with the term of the license.

The licensee shall file a copy of the bond with the superintendent. The bond shall be for the exclusive benefit of any borrower injured by a violation by a licensee or any employee of a licensee, of any provision of sections A A license issued by the superintendent of financial institutions pursuant to sections Each license issued shall be conspicuously posted in the place of business and is not transferable or assignable. B 1 Not more than one place of business shall be maintained under the same license issued under sections When a licensee wishes to change its place of business within the same municipal corporation, written notice thereof shall be given in advance to the superintendent who shall provide without cost a license pursuant to sections A licensee under sections A The total amount of the loan does not exceed five hundred dollars.

B The duration of the loan, as specified in the loan contract required under division C of this section, is not less than thirty-one days. C The loan is made pursuant to a written loan contract that sets forth the terms and conditions of the loan.

A copy of the loan contract shall be provided to the borrower. The loan contract shall disclose in a clear and concise manner all of the following: The cost of this loan is higher than the average cost charged by financial institutions on substantially similar loans. D The loan contract includes a provision that offers the borrower an optional extended payment plan that may be invoked by the borrower at any time before the maturity date of the loan. To invoke the extended payment plan, the borrower shall return to the office where the loan was made and sign an amendment to the original loan agreement reflecting the extended terms of the loan.

The extended payment plan shall allow the borrower to repay the balance by not less than sixty days from the original maturity date.

No additional fees or charges may be applied to the loan upon the borrower entering the extended payment plan. The person originating the loan for the licensee shall identify verbally to the borrower the contract provision regarding the extended payment plan, and the borrower shall verify that the provision has been identified by initialing the contract adjacent to the provision.

A licensee may engage in the business of making loans provided that each loan meets all of the following conditions:. A The total amount of the loan does not exceed one thousand dollars. B 1 Subject to division B 2 of this section, the minimum duration of the loan is ninety-one days and the maximum duration of the loan is one year.

The cost of this loan is higher than the average cost charged by financial institutions, such as banks or credit unions, on substantially similar loans.

A financial institution may be able to offer you a similar loan at a lower cost. You have the right to revoke or remove your authorization for electronic payment at any time. D The loan is a precomputed loan and is payable in substantially equal installments consisting of principal, fees, and interest combined. For purposes of this division, "precomputed loan" means a loan in which the debt is a sum comprising the principal amount and the amount of fees and interest computed in advance on the assumption that all scheduled payments will be made when due.

E The loan may be rescinded or canceled on or before five p. If the duration of a short-term loan is ninety-one days or greater, the licensee shall determine the recommended length of a loan based on the borrower's verified monthly income as described in division B 2 of section The licensee shall provide the borrower with a written copy of its recommendation, which is not binding on the borrower.

A person licensed pursuant to sections A Interest calculated in compliance with 15 U. B One check collection charge per loan not exceeding an amount equal to twenty dollars plus any amount passed on from other financial institutions for each check, negotiable order of withdrawal, share draft, or other negotiable instrument returned or dishonored for any reason, provided that the terms and conditions upon which check collection charges will be charged to the borrower are set forth in the written loan contract described in division C of section C Damages, costs, and disbursements to which the licensee may become entitled to by law in connection with any civil action to collect a loan after default.

A licensee may charge, collect, and receive only the following fees and charges in connection with a short-term loan:. A Interest not exceeding a rate of twenty-eight per cent per annum;. B 1 Except as otherwise provided in division B 2 of this section, a monthly maintenance fee that does not exceed the lesser of ten per cent of the originally contracted loan amount or thirty dollars, provided the fee is not added to the loan balance on which interest is charged;.

C If the originally contracted loan amount is five hundred dollars or more, a loan origination charge in the amount of two per cent of the originally contracted loan amount, provided the loan origination charge is not added to the loan balance on which interest is charged;. D One check collection charge per loan not exceeding an amount equal to twenty dollars plus any amount passed on from other financial institutions for each check, negotiable order of withdrawal, share draft, or other negotiable instrument returned or dishonored for any reason, provided that the terms and conditions upon which check collection charges will be charged to the borrower are set forth in the written loan contract described in division C of section E If a licensee provides the proceeds of a loan in the form of a check, a fee to cash that check in an amount not exceeding ten dollars;.

F Damages, costs, and disbursements to which the licensee may become entitled to by law in connection with any civil action to collect a loan after default, except that the total amount of damages and costs shall not exceed the originally contracted loan amount.

A licensee may refinance a short-term loan provided that all of the following apply to the refinanced loan:. A The loan is a short-term loan. B Interest on the loan does not exceed a rate of twenty- eight per cent per annum. C The licensee does not charge, collect, or receive the monthly maintenance fee described in division B of section If a short-term loan is prepaid in full or refinanced prior to the loan's maturity date, the licensee shall refund to the borrower a prorated portion of the interest, monthly maintenance fees, and all other charges based on a ratio of the number of days the loan was outstanding and the number of days for which the loan was originally contracted.

For purposes of this section, the monthly maintenance fee is not considered to be fully earned at the beginning of a month.

Notwithstanding any provision of sections For purposes of this section, all charges made in connection with the loan shall be included when calculating the total loan charges except for all of the following:. A The check collection charge authorized under section B The check cashing fee authorized under section C The interest charges on a loan that is refinanced in accordance with section No person licensed pursuant to sections A Violate section B Make a loan that does not comply with section C Charge, collect, or receive, directly or indirectly, any additional fees, interest, or charges in connection with a loan, other than fees and charges permitted by section D Collect treble damages pursuant to division A 1 b ii of section E Make a short-term loan to a borrower if there exists an outstanding loan between the licensee and that borrower, if a loan between any licensee and that borrower was terminated on the same business day, if the borrower has more than one outstanding loan, if the loan would obligate the borrower to repay a total amount of more than five hundred dollars to licensees, or indebt the borrower, to licensees, for an amount that is more than twenty-five per cent of the borrowers gross monthly salary not including bonus, overtime, or other such compensation, based on a payroll verification statement presented by the borrower;.

F Bring or threaten to bring an action or complaint against the borrower for the borrower's failure to comply with the terms of the loan contract solely due to the check, negotiable order of withdrawal, share draft, or negotiable instrument being returned or dishonored for insufficient funds.

Nothing herein prohibits such conduct, action, or complaint if the borrower has intentionally engaged in fraud by, including but not limited to, closing or using any closed or false account to evade payment;. G Make a short-term loan to a borrower for purposes of retiring an existing short-term loan between any licensee and that borrower;.

H Require the borrower to waive the borrower's right to legal recourse under any otherwise applicable provision of state or federal law;. I Accept the title of a vehicle, real property, physical assets, or other collateral as security for the obligation;.

J Engage in any device or subterfuge to evade the requirements of sections K Assess or charge a borrower a fee for prepaying the loan in full prior to the maturity date;.

L Fail to comply with section M Recommend to a borrower that the borrower obtain a loan for a dollar amount that is higher than the borrower has requested;. N Make a loan to a borrower that has received two loans within the previous ninety days from licensees, unless the borrower has completed during that period a financial literacy program approved by the superintendent;.

O Draft funds electronically from any depository financial institution in this state, or bill any credit card issued by such an institution. Nothing in this division shall prohibit the conversion of a negotiable instrument into an electronic form for processing through the automated clearing house system. P Make, publish, or otherwise disseminate, directly or indirectly, any misleading or false advertisement, or engage in any other deceptive trade practice;.

Q Offer any incentive to a borrower in exchange for the borrower taking out multiple loans over any period of time, or provide a short-term loan at no charge or at a discounted charge as compensation for any previous or future business. R Make a loan to a borrower if the borrower has received a total of four or more loans, from licensees, in the calendar year. S Present a check, negotiable order of withdrawal, share draft, or other negotiable instrument, that has been previously presented by the licensee and subsequently returned or dishonored for any reason, without prior written approval from the borrower.

T Change the check number, or in any other way alter a check, negotiable order of withdrawal, or share draft, prior to submitting such check, negotiable order of withdrawal, or share draft for processing through the automated clearing house system, or submit false information about any check, negotiable order of withdrawal, or share draft to the automated clearing house system.

C Charge, collect, or receive, directly or indirectly, credit insurance premiums, charges for any ancillary product sold, or any additional fees, interest, or charges in connection with a loan, other than fees and charges permitted by section E Except as otherwise provided in section G Require the borrower to waive the borrower's right to legal recourse under any otherwise applicable provision of state or federal law;.

H Accept the title or registration of a vehicle, real property, physical assets, or other collateral as security for the obligation;. I Engage in any device or subterfuge to evade the requirements of sections J Assess or charge a borrower a fee for prepaying the loan in full prior to the maturity date;. K Fail to comply with section L Recommend to a borrower that the borrower obtain a loan for a dollar amount that is higher than the borrower has requested;.

M Draft funds electronically from any depository financial institution in this state without written approval of the borrower. N Make, publish, or otherwise disseminate, directly or indirectly, any misleading or false advertisement, or engage in any other deceptive trade practice;.

O Offer any incentive to a borrower in exchange for the borrower taking out multiple loans over any period of time, or provide a short-term loan at no charge or at a discounted charge as compensation for any previous or future business;. P Present a check, negotiable order of withdrawal, share draft, or other negotiable instrument, that has been previously presented by the licensee and subsequently returned or dishonored for any reason, without prior written approval from the borrower;.

Q Change the check number, or in any other way alter a check, negotiable order of withdrawal, or share draft, prior to submitting such check, negotiable order of withdrawal, or share draft for processing through the automated clearing house system, or submit false information about any check, negotiable order of withdrawal, or share draft to the automated clearing house system;.

R Make a short-term loan to a borrower if the loan will result in a total outstanding principal of more than two thousand five hundred dollars in short-term loans made by licensees to that borrower at any one time.

Prior to making a short-term loan, a licensee shall require each borrower to sign a written declaration that, pursuant to this division, the borrower is eligible to receive the loan, and shall make a concerted effort to verify the borrower's eligibility. S Fail to accept cash or a certified check from a third party when submitted on behalf of the borrower for repayment of a short-term loan in full or in part;. T Contact a borrower for any reason other than for the borrower's benefit regarding upcoming payments, options for obtaining loans, payment options, payment due dates, the effect of default, or, after default, receiving payments or other actions permitted by the licensee; to advise the borrower of missed payments or dishonored checks; or to assist the transmittal of payments via a third-party mechanism;.

U In the event that a short-term loan or its servicing is sold or assigned, fail to provide notice and the information needed to make future payments;. V Make a loan to a borrower that includes a demand feature that permits the licensee, in the event the borrower fails to meet the repayment terms for any outstanding balance, to terminate the loan in advance of the original maturity date and to demand repayment of the entire outstanding balance, unless both of the following requirements are met: For purposes of division V 2 of this section, the outstanding balance and prorated interest and fees shall be calculated as if the borrower had voluntarily prepaid the loan in full on the date of termination.

A licensee shall not attempt to collect from a borrower's account after two consecutive attempts have failed, unless the licensee obtains new written authorization from the borrower to electronically transfer or withdraw funds from the borrower's account.

A The superintendent of financial institutions shall, in accordance with Chapter B The superintendent may make any investigation and conduct any hearing the superintendent considers necessary to determine whether any person has violated sections The superintendent may impose a monetary fine of not more than one thousand dollars for each such violation. C In making any investigation or conducting any hearing pursuant to this section, the superintendent, or any person designated by the superintendent, at any time may compel by subpoena witnesses, may take depositions of witnesses residing without the state in the manner provided for in civil actions, pay any witnesses the fees and mileage for their attendance provided under section The superintendent also may compel by order or subpoena duces tecum the production of, and examine, all relevant books, records, accounts, and other documents.

If a person does not comply with a subpoena or subpoena duces tecum, the superintendent may apply to the court of common pleas of Franklin county for an order compelling the person to comply with the subpoena or subpoena duces tecum or, for failure to do so, an order to be held in contempt of court.

D In connection with any investigation under this section, the superintendent may file an action in the court of common pleas of Franklin county or the court of common pleas of the county in which the person who is the subject of the investigation resides, or is engaging in or proposing to engage in actions in violation of sections As often as the superintendent considers it necessary, the superintendent may examine the records of a licensee, but in any case, the superintendent shall examine the records of a licensee at least annually.

A Every licensee shall keep and use in the licensee's business such books, accounts, records, and loan documents as will enable the division of financial institutions to determine whether the licensee is complying with sections Such books, accounts, records, and loan documents shall be segregated from those pertaining to transactions that are not subject to sections Every licensee shall preserve the books, accounts, records, and loan documents pertaining to loans made under sections B 1 As required by the superintendent of financial institutions, each licensee shall file with the division each year a report under oath or affirmation, on forms supplied by the division, concerning the business and operation for the preceding calendar year.

If a licensee has more than one place of business in this state, the licensee shall furnish a report for each location. The published analysis shall include all of the following: The superintendent of financial institutions, in accordance with Chapter The superintendent shall issue a rule defining "senior officer" for the purpose of section The superintendent may adopt, amend, and repeal substantive rules defining with reasonable specificity acts or practices that violate section A A violation of section A borrower injured by a violation of section B The superintendent of financial institutions or a borrower may bring directly an action to enjoin a violation of sections The prosecuting attorney of the county in which the action may be brought may bring an action to enjoin a violation of sections C The superintendent may initiate criminal proceedings under sections If the prosecuting attorney does not prosecute the violations, or at the request of the prosecuting attorney, the superintendent shall present any evidence of criminal violations to the attorney general, who may proceed in the prosecution with all the rights, privileges, and powers conferred by law on prosecuting attorneys, including the power to appear before grand juries and to interrogate witnesses before such grand juries.

These powers of the attorney general are in addition to any other applicable powers of the attorney general. D The prosecuting attorney of the county in which an alleged offense may be prosecuted may initiate criminal proceedings under sections E In order to initiate criminal proceedings under sections If, within a reasonable period of time, the prosecuting attorney has not agreed to prosecute the violations, the attorney general may proceed in the prosecution with all the rights, privileges, and powers described in division B of this section.

F When a judgment under this section becomes final, the clerk of court shall mail a copy of the judgment, including supporting opinions, to the superintendent. A 1 "Debt collector" means a licensee, officer, employee, or agent of a licensee, or any person acting as a debt collector for a licensee, or any person while serving or attempting to serve legal process on any other person in connection with the judicial enforcement of any debt resulting from a short-term loan made by a licensee.

For the purpose of this section, the term "borrower" includes the borrower's spouse, parent, if the borrower is a minor, guardian, executor, or administrator. B When communicating with any person other than the borrower for the purpose of acquiring location information about the borrower, the debt collector shall identify self, state that the purpose for the communication is to confirm or correct location information concerning a person, and, only if expressly requested, identify the debt collector's employer.

The debt collector shall not do any of the following: C A debt collector, without the prior consent of the borrower given directly to the debt collector or without the express permission of a court of competent jurisdiction, may not communicate with a borrower in connection with the collection of any debt: In the absence of knowledge of circumstances to the contrary, a debt collector shall assume that the convenient time for communicating with a borrower is after eight a.

D A debt collector, when communicating with a third party without the prior consent of the borrower given directly to the debt collector, or without the express permission of a court of competent jurisdiction, or as reasonably necessary to effectuate a postjudgment judicial remedy, may not communicate, in connection with the collection of any debt, with any person other than the borrower, the borrower's attorney, a consumer reporting agency if otherwise permitted by law, or the attorney of the debt collector.

E If a borrower provides written notification, to a person licensed under section If such notice from the borrower is made by mail, notification shall be complete upon receipt. F A debt collector may not engage in any conduct the natural consequence of which is to harass, oppress, or abuse any person in connection with the collection of a debt, including, but not limited to, any of the following: G A debt collector may not use any false, deceptive, or misleading representation or means in connection with the collection of any debt, including, but not limited to, any of the following: H A debt collector may not use unfair or unconscionable means to collect or attempt to collect any debt, including, but not limited to, any of the following: The charges include, but are not limited to, collect telephone calls and telegram fees;.

I In addition to the requirements of this section, a debt collector shall follow the practices set forth in the federal "Fair Debt Collection Practices Act," 91 Stat.

In the event of a conflict between described practices in the federal act and described practices in this section, this section shall prevail. A If more than four hundred persons are licensed under sections Licensees shall use the database to determine if a borrower is eligible for a loan. Licensees shall submit the required data in a format as the superintendent prescribes by rule, and verify eligibility before entering into each loan transaction.

B If a statewide common database is developed pursuant to division A of this section, the superintendent shall adopt rules to administer and enforce this section and to ensure that the database is used by licensees in accordance with this section, including: C The database operator, whether the superintendent or a third party selected by the superintendent pursuant to Chapter D A licensee may rely on the information contained in the database as accurate and is not subject to any administrative penalty or civil liability as a result of relying on inaccurate information contained in the database.

E With respect to the database prescribed in division A of this section, any information submitted for incorporation into the database, information in the database itself, or archived information as maintained by the superintendent pursuant to this section is not a public record under section F If approved by the superintendent, the database operator may impose a per transaction fee for the actual costs of entering, accessing, and maintaining data in the database.

The fee shall be payable to the database operator in a manner prescribed by the superintendent. A licensee may not charge a customer all or part of the fee. Repealed by nd General Assembly File No. A Before initiating a short-term loan transaction with a borrower, a licensee shall make a reasonable attempt to verify the borrower's income for purposes of division B 2 of section At a minimum, the licensee shall obtain from the borrower one or more recent pay stubs or other written evidence of recurring income, such as a bank statement.

The written evidence shall include at least one document that, when presented to the licensee, is dated not earlier than forty-five days prior to the borrower's initiation of the short-term loan transaction. If the borrower intends to provide a bank statement, the licensee shall permit the borrower to delete from the statement the information regarding to whom the debits listed on the statement are payable.

B The superintendent of financial institutions may adopt rules under section A If a statewide common database is not developed under section In the absence of an electronic database tracking service, each licensee shall require a borrower to sign a written declaration confirming that, pursuant to section B The records of a licensee and any electronic database tracking service shall be subject to review and examination by the division of financial institutions to determine whether the licensee is complying with this section and other applicable provisions of sections A A person licensed, and any person required to be licensed under sections B The duties and standards of care created in this section may not be waived or modified.

C A borrower injured by a violation of this section may bring an action for recovery of damages. Damages awarded shall not be less than all compensation paid directly or indirectly to a licensee from any source, plus reasonable attorney's fees and court costs.

The borrower may be awarded punitive damages. A The superintendent of financial institutions shall report semiannually to the governor and the general assembly on the operations of the division of financial institutions with respect to the following: B The information required under divisions A 1 and 2 of this section does not include information that, pursuant to division C of this section, is confidential.

C The following information is confidential: D The information described in division A 1 of this section shall remain confidential for all purposes except when it is necessary for the superintendent to take official action regarding the affairs of a licensee, or in connection with criminal or civil proceedings to be initiated by a prosecuting attorney or the attorney general.

This information also may be introduced into evidence or disclosed when, and in the manner, authorized by section E All application information, except social security numbers, employer identification numbers, financial account numbers, the identity of the institution where financial accounts are maintained, personal financial information, fingerprint cards and the information contained on such cards, and criminal background information, is a public record as defined in section F This section does not prevent the division from releasing information relating to licensees to the attorney general for purposes of that office's administration of Chapter Information the division releases to the attorney general pursuant to this section remains privileged and confidential, and the attorney general may not disclose the information except by introduction into evidence in connection with the attorney general's administration of Chapter A "Person" means an individual, partnership, association, trust, corporation, or any other legal entity.

B "Certificate" means a certificate of registration issued under sections

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Just because a state pdl law states "applies to check cashiers only", do not assume that means that all internet pdls are illegal in that state. That might be what's throwing people off regarding Ohio. Ohio is the only state where lenders operate under such a statute that was not intended for payday loans, said Alex Horowitz, senior research officer for Pew Charitable Trust's consumer finance project, which has researched payday laws in . The Ohio Supreme Court on Wednesday ruled a law intended to regulate payday loan lenders does not apply to lenders who operate under another state lending law. The decision upholds the loophole in state law that allows payday loan lenders to evade lawmaker-imposed restrictions on payday loans by operating under the Mortgage .