Briefly, Aug. 26
Man pleads guilty
A Sycamore man pleaded guilty to a charge during a hearing in Seneca County Common Pleas Court Judge Michael Kelbley’s courtroom.
Timothy W. Ludwig, 38, entered written pleas of guilty to charges of theft from a person in a protected class, a fourth-degree felony, and theft, a fifth-degree felony, court records state.
Kelbley sentenced him to three years of community control.
Ludwig must be evaluated and complete a substance abuse rehabilitation program through Zepf Center and undergo random drug and/or alcohol urinalysis as directed by Adult Parole Authority, according to court records.
Fostoria man indicted
A Fostoria man was indicted by a Seneca County grand jury.
Joshua S. Chavez, 25, was charged with felonious assault, a second-degree felony, according to court records.
Reineke applauds payday lending bill
State Rep. Bill Reineke applauded the passage of a bipartisan bill Wednesday that aims to reform Ohio’s payday lending industry.
According to a news release, Reineke, R-Tiffin, was pleased that House Bill 123, sponsored by state representatives Kyle Koehler, R-Springfield, and Michael Ashford, D-Toledo, was approved after the Senate made tweaks to the bill.
The bill lowers interest rates on loans to help borrowers avoid endless debt cycles.
The release states the bill caps interest rates at 28 percent, consistent with the limit enacted by the legislature and overwhelmingly approved by voters 10 years ago. It requires loans with a duration shorter than 90 days to adhere to an income-adjusted repayment scale and creates a maximum term of one year, capping the principal loan amount at $1,000.
“Yesterday, the legislature passed common sense regulatory reform for the Ohio payday lending industry,” Reineke said in the release. “House Bill 123 restricts predatory lending while maintaining access to emergency credit for Ohioans that need these short-term financial products.”
The bill also closes loopholes and clarifies laws that regulate the payday lending industry, according to the release. This includes prohibiting borrowers from owing more than $2,500 in outstanding principal at a time from multiple licensees, while limiting monthly maintenance fees to either 10 percent of the principal or $30, whichever is less.
The release states the bill seeks to protect consumers while also maintaining their access to credit. The bill now just needs a signature from Gov. John Kasich to become law.
There are at least two payday loan locations in Tiffin, Advance America, 716 W. Market St., and CashMax Ohio, 484 W. Market St.