Ohio Supreme Court rejects Cleveland's predatory lending ordinances

Banking industry seeking similar decision on Toledo law

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.