In the final chapter of one of the most surprising twists of the year, the Ohio House agreed with the Senate鈥檚 changes to a payday lending overhaul and sent it to the governor鈥檚 office.
The bill had no momentum for a year, until former House Speaker Cliff Rosenberger resigned after reports of an FBI probe . Rosenberger has maintained he鈥檚 done nothing wrong.
The House and Senate then fairly quickly.
New was asked if it would鈥檝e passed if not for the Rosenberger investigation.
鈥淚 don鈥檛 know, I don鈥檛 want to speculate on how we got here. The point is we just made things a lot better for consumers in Ohio,鈥� he said.
The bill caps all interest and fees at 60 percent and sets lower loan payments based on a borrower鈥檚 monthly income. No word yet on whether Gov. John Kasich will sign it.
