Laserfiche WebLink
RESOLUTION NO. 7600-01 BY: Corrigan, FitzGerald, George, <br /> Roth, Seelie, Skindell, Smith~ <br /> <br /> A RESOLUT/ON opposing House Bill 386 which undermines the Home <br />Rule powers of Lakewood by relinquishing to the state the fight to regulate "predatory <br />lending" practices. <br /> <br /> WHEREAS, the City of Dayton recently passed an ordinance <br />banning some "predatory lending" practices and caused an uproar among some <br />consumer finance companies, banks, credit unions, S&L's and others, and <br /> <br /> WHEREAS, H B 386 was designed by these financial institutions to <br />combat ordinances like the one from Dayton by allowing only the state to pass <br />consumer finance regulations, even if the state chooses not to regulate them, and <br /> <br /> WHEREAS, the Ohio Municipal League sent out a Legislative <br />Bulletin to all Ohio cities alerting .them to this direct attempt to thwart Home Rule, <br />and <br /> <br /> WHEREAS, the City of Lakewood needs to demonstrate, through it's <br />strong opposition to HB 386, that Home Rule will not be thwarted by the <br />consumer finance industry Or any other industry; now, therefore, <br /> <br />BE IT RF2~LVED BY THE CITY OF LAKEWOOD, STATE OF <br /> <br />OHIO: <br /> <br /> Section 1. That this Council and Mayor strongly oppose HB 386 which <br />usuzps Home Rule Power by placing sole consumer finance regulations in the <br />hands of the State. <br /> <br /> Section 2. That the Clerk of Council be and is hereby authorized and <br />directed to send a copy of this legislation to Governor Bob Taft, Senate President <br />Richard Finan, Senator Dan Brady, Representative Bryan Flannery and the Ohio <br />Municipal League. <br /> <br />President <br /> <br />Mayor <br /> <br /> <br />