Ohio Proposes New Rules to Implement Anti-Abuse Bill
September 15, 2006
Ohio’s attorney general has proposed new administrative rules that would define unconscionable mortgage lending practices and set the table for enforcement of an anti-predatory lending law that is slated to kick in on Jan 1. “We are cracking down on predatory lending practices that have gone unregulated for years,” said AG Jim Petro in a statement announcing the release of the 15-page proposal, developed in consultation with mortgage bankers, consumer advocates and state and local agencies. Petro said the proposal, which is open...