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Ohio Senate Won't Pass Payday Lending Reform Before Summer Break

payday lending sign
Tony Webster

Ohio's Senate leader says senators won't be able to pass a payday lending bill before breaking for the summer.

Republican Senate President Larry Obhof, of Medina, told The Associated Press Tuesday his chamber needs more time to complete its work so no votes will take place this week.

Obhof said he'll trim the Senate's usual summer break to add session dates in September and possibly July and August. He said he's aiming for a final bill that's agreeable to the Ohio House.

The House passed its bipartisan version of the bill June 7. The measure had been languishing for a year.

Republican ex-Speaker Cliff Rosenberger resigned in April amid an FBI probe into his lavish lifestyle and international travel that included trips involving payday lending lobbyists.

A group of advocates, Ohioans For Payday Lending Reform, are collecting signatures for a fall ballot initative that would cap Ohio's interest rates on payday loans and impose additional regulations on the industry ;