Auto-title lenders peel into Ohio

The reporter Sheryl Harris of the Cleveland Plain Dealer authored an article in today's edition highlighting how "Auto-title lenders peel into Ohio".

"Auto title loans have the same patterns of repeated borrowing typical of payday loans. "Driven to Disaster," a report by the Consumer Federation of America and the Center for Responsible Lending, found the average title-loan borrower took out eight loans. That type of loan churning is an indicator that consumers are unable to pay off their loans - no surprise since a consumer's ability to repay isn't taken into account in this type of lending."

Julie Robie, managing attorney of Legal Aid's consumer law practice group, is quoted in the story.   Click here to read a PDF version of the story.   Or, click here to read the story on Cleveland.com.