Afternoon Update – June 6

Afternoon Update

STATE MEETINGS PLANNED – The Governor’s Executive Workforce Board Meeting will meet on June 9, 2015 at 1 p.m. The meeting will be held in Columbus at the Vern Riffe Building, 77 South High Street on the 31st Floor in room South B & C. The Governor’s Executive Workforce Board works to coordinate and align workforce policies, programs and resources across state government to improve effectiveness, efficiency and accountability. For more information please visit

The Ohio Third Frontier Commission will meet on June 11, 2015, at 10 a.m. The meeting will be held at Rev1 Ventures, formerly TechColumbus, 1275 Kinnear Road, Columbus, Ohio 43212. The Ohio Third Frontier Commission coordinates and administers state science and technology programs to help maximize economic growth in Ohio.

ELDER ABUSE AWARENESS DAY MARKED – Catholic Charities invites the community to join the worldwide campaign to wear purple in recognition of World Elder Abuse Awareness Day on Monday, June 15.

Nationally, an estimated five million, or one in 10, seniors are victims of elder abuse, neglect or financial exploitation, according to the U.S. Department of Health and Human Services. The International Network for the Prevention of Elder Abuse and the World Health Organization at the United Nations launched the first World Elder Abuse Awareness Day on June 15, 2006, in an effort to unite communities around the world in raising awareness about elder abuse.

Catholic Charities offers Payee and Guardianship Services to adults age 55 and older in an effort to prevent elder abuse in north central Ohio. These programs are offered in Richland, Huron, Ottawa and Erie Counties to help protect seniors from abuse and financial exploitation through managing bill payments and offering legal guardianship. Seniors and their families are able to have peace of mind knowing their finances and loved ones are protected.

To learn more or to report suspected elder abuse, please contact Rebecca Owens at [email protected] or 419-524-0733, ext. 225.

Catholic Charities serves people of all faiths in the Diocese of Toledo by providing food, shelter, prescription and emergency rent assistance as well as adoption services, jail and prison ministries and guardianship services to the elderly.

BROWN URGES ACTION TO STOP PREDATORY PAYDAY LENDING – US. Sen. Sherrod Brown (D-OH) –– ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs –– urged the nation’s top consumer agency to establish strong rules to combat predatory practices in the payday loan market.

The Consumer Financial Protection Bureau (CFPB) is now considering new rules to address payday lending, a practice that often traps borrowers in a cycle of debt. In a letter yesterday to CFPB Director Richard Cordray, Brown joined more than 30 Senators in calling on the agency to create rules that will rein in payday lenders in Ohio and nationwide.

“We support the CFPB’s initial steps towards releasing a proposed rule and urge you to issue the strongest possible rules to end the damaging effects of predatory lending,” the Senators wrote.

“Small-dollar, short-term loans with astronomical interest rates that pull consumers into a cycle of debt are predatory. These loans have high default rates, including after the borrower has already paid hundreds or thousands of dollars because of triple-digit interest rates. […] Even if consumers do not default on these loans, high interest rates, preauthorized payment methods and aggressive debt collection efforts often cause a cascade of devastating financial consequences that can include lost bank accounts, delinquencies on credit cards and other bills, and bankruptcy.”

The Senators urged the CFPB to focus on meaningful ability-to-pay standards for small-dollar loans. Such standards could help crack down on loans with exorbitant interest rates and fees that low-income customers are unlikely to be able to repay.

Many workers turn to predatory payday loans to make ends meet. These loans can carry hidden fees and can have annual interest rates as high as 500 percent. A 2014 CFPB study found that four out of five payday loans are rolled over or renewed. These operations are thriving at the expense of low-income Americans.

The Senators’ letter is supported by Americans for Financial Reform, the California Reinvestment Coalition, the Center for Responsible Lending, Consumer Action, the Consumer Federation of America, Consumers Union, Mountain State Justice, the NAACP, the National Consumer Law Center, National Fair Housing Alliance, National People’s Action, PICO Network, PIRG, Policy Matters Ohio, the West Virginia Center on Budget and Policy, and the Woodstock Institute.

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