Niger Innis of the Congress on Racial Equality (CORE) testified today before the Ohio Senate Committee on Finance and Financial Institutions.   Here’s a news release CORE sent out.  Key passage:

Today, Innis told Senators, “It seems unfortunate to me that the people of Ohio are in danger of losing the choice of a viable financial tool. A tool, which when lost in other states such as Georgia and North Carolina, has hurt consumers.”

The Ohio Senate Finance Committee is holding a hearing on payday lending legislation.   Senator Joy Padgett just said, “Let’s not pull the rug out for underneath the customers.”   Representative Chris Widener said that all problems could be solved if we limited loans to 25% of a person’s pay.  Widener, however, supports a 28% rate cap.