Wednesday March 26, 2014 11:47 PM Comments: 0 WASHINGTON — Nearly six years after Ohio lawmakers passed a bill to crack down on payday lenders, the industry has turned to auto-title and installment loans, an Ohio consumer advocate told a U.S. Senate panel today. David Rothstein, director of public affairs for Neighborhood Housing Services of Greater Cleveland, said the 2008 law, which curtailed interest rates, loan amounts and the number of loans, has effectively “morphed” the lenders into auto-title and installment loan sellers, products that still paralyze consumers. In some cases, the loans culminate in Ohioans losing their cars or being saddled with loans similar to payday loans with...
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