First Friday Webinar - The State of Small Dollar Lending - What's Happening in Your State and What Can you Do?

Description

Ohio has both payday and car title loans, despite legislative reforms attempts in 2008, so the Ohio marketplace is wide open. Michigan has payday but not car title loans; West Virginia said NO to both. But if you think your cash-strapped clients will be spared the debt trap of high cost, small dollar loans, think again. A plethora of options are just a few internet clicks away, and borrowers in the more restrictive states can take a pleasant drive across state lines to a friendly store just waiting for their business. Whether you know it or not, these loans are draining money out of your clients' pockets. When default, repossession and collection action threatens, what can advocates do? Join Senior Ohio Poverty Law Center attorney Linda Cook to discuss the state of small dollar lending, strategize defensive and affirmative options, and learn how you can contribute to the national dialog to support strong regulation by the Consumer Financial Protection Bureau as it prepares to issue regulations for this fluid and resourceful marketplace.