Ohio Supreme Court rejects Cleveland's predatory lending ordinances

Banking industry seeking similar decision on Toledo law

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Cleveland’s attempts to curb predatory mortgage lending through local ordinances infringes on powers reserved for the state, the Ohio Supreme Court has ruled in a decision that could discourage other cities from attempting similar measures.

In a 5-2 decision this month, Ohio’s highest court invalidated three Cleveland city ordinances aimed at curbing predatory lending, saying they conflict with state laws and are unconstitutional.