Afternoon update
PLANNED STATUS MEETINGS – The Governor’s Workforce Board meeting will meet on June 9, 2015 at 1:00 p.m. The meeting will be held in Columbus at the Vern Riffe Building, 77 South High Street on the 31st Floor in the South B&C Room. Coordinate and align workforce policies, programs and resources across government government to improve effectiveness, efficiency and accountability. For more information, please visit http://workforce.ohio.gov/Board.aspx
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 the state’s science and technology programs. to help maximize economic growth in Ohio.
SENIOR ABUSE AWARENESS DAY – Catholic Charities invites the community to join the global campaign to wear purple in recognition of World Elder Abuse Awareness Day on Monday, June 15.
Nationally, an estimated five million, or one in ten, older people are victims of abuse, neglect or financial exploitation, according to the US 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, with the aim of uniting communities around the world to raise awareness about elder abuse.
Catholic Charities provides beneficiary and guardianship services to adults 55 and older with the goal of preventing 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 abuse by managing bill payments and providing legal guardianship. Seniors and their families can have peace of mind knowing that their finances and loved ones are protected.
For more information or to report a 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, ordinances and emergency rent assistance as well as adoption services, prison and prison ministries and services guardianship of the elderly.
BROWN urges action to stop predatory payday loans – WE. Senator Sherrod Brown (D-OH) –– a leading member of the US Senate Committee on Banking, Housing and Urban Affairs –– urged the nation’s leading consumer protection agency to establish tough rules to combat the practices predatory in the payday loan market.
The Consumer Financial Protection Bureau (CFPB) is now considering new rules for dealing with payday loans, a practice that often traps borrowers in a cycle of debt. Yesterday, in a letter to CFPB director Richard Cordray, Brown joined more than 30 senators in calling on the agency to create rules that will curb payday lenders in Ohio and across the country.
“We support the CFPB’s first steps towards publishing a proposed rule and urge you to publish the strictest rules possible to end the harmful effects of predatory lending,” the senators wrote.
“Short-term, low-value loans with astronomical interest rates that drag consumers into a cycle of debt are predatory. These loans have high default rates even after the borrower has already paid hundreds or thousands of dollars due to triple digit interest rates. […] Even if consumers do not default on these loans, high interest rates, pre-authorized payment methods, and aggressive debt collection efforts often result in a cascade of devastating financial consequences that can include loss of bank accounts, delinquencies. on credit cards and other bills; and bankruptcy.
Senators urged the CFPB to focus on meaningful payment capacity standards for small 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 are turning to predatory payday loans to make ends meet. These loans can come with hidden fees and can have annual interest rates of up to 500%. A 2014 CFPB study found that four out of five payday loans are rolled over or renewed. These operations thrive at the expense of low-income Americans.
The Senators’ Letter is supported by Americans for Financial Reform, California Reinvestment Coalition, Center for Responsible Lending, Consumer Action, Consumer Federation of America, Consumers Union, Mountain State Justice, NAACP, National Consumer Law Center, National Fair Housing Alliance, National People’s Action, PICO Network, PIRG, Policy Matters Ohio, West Virginia Center on Budget and Policy, and Woodstock Institute.
