Sen. Brown: Protecting Veterans From Predatory Lending
November 12, 2019
November 12, 2019
WASHINGTON, Nov. 12 -- Sen. Sherrod Brown, D-Ohio, issued the following newsletter:
In Ohio, there are more than 650 payday or car title loan stores. Their loans saddle borrowers with interest rates that regularly top 600 percent, and often trap borrowers in a downward spiral of debt. More than 75 percent of loans go to borrowers who take out 11 or more loans each year.
And we know these companies often target military families and veterans.
That's why we p . . .
In Ohio, there are more than 650 payday or car title loan stores. Their loans saddle borrowers with interest rates that regularly top 600 percent, and often trap borrowers in a downward spiral of debt. More than 75 percent of loans go to borrowers who take out 11 or more loans each year.
And we know these companies often target military families and veterans.
That's why we p . . .