The people have spoken. I’m not surprised that something as polarized as payday lending could make it through the popular vote. Let’s face it, payday lending has a image problem. This group is constantly being attacked by consumer groups. The majority of people drew a line a payday lending. In Ohio, many lenders are closing […]
Category Archives: Ohio
Payday lenders helped by Ohio Christian Alliance
The Ohio Christian Alliance is urging voters to vote “no” on Nov. 4th and allow payday lending to continue in Ohio. What people who oppose payday lending won’t tell you is that if the rates get capped at 28%, no one will be getting a cash advance. Banks will use overdraft fees to replace payday […]
Posted in Ohio
C.O.A.S.T sides with payday lenders
In an interesting turn of events, the Coalition Opposed to Additional Spending and Taxes (C.O.A.S.T.) is urging voters to shoot down the law recently passed in Ohio that would cap rates, but more importantly establish a state regulated database. This article is very interesting for a couple of reasons. I would like to share the […]
Posted in Ohio
13,000 Ohio signatures thrown out
“On Friday, payday industry-backed Ohioans for Financial Freedom agreed to take back 12,928 signatures it had paid California-based Arno Political Consultants to collect in favor of a fall ballot issue that would ask voters to repeal the new law.” 13,000 signtures is not a lot considering the total required signatures is about 241,000. Still it’s […]
Posted in Ohio
Politicians being politicians
This whole rate cap issue has become a great tool for politicians to hang their hat on. Did anyone tell them that the people who are happiest about this, do not use payday loans or do not want to pay them back. Ask people who use the product point blank. Would it bother you, if […]
Posted in Ohio
No means Yes
It took 5 hours, but the Ohio Ballot board was finally able to make both sides happy. In the upcoming election, the PDL industry looks to overturn the referendum that will cap interest rates at 28%. If enough voters vote “No” the cap goes away. It’s worth noting that there is a lot more regulation […]
Posted in Ohio
Ohioans for Financial Freedom Commercial
You can view it here. I think the commercial make a point, but it’s not very ernest. Forget the commercial for a second and let’s hear what people had to say. It’s near the bottom of this link. I’m sick of hearing people correlate the mortgage crisis with payday loans. It’s imflamatory and doesn’t even […]
Also posted in rant
Ohio still in the air
Payday lenders are trying to repeal part of HB 545, specifically, the part about the interest rate caps. This article provides some insight on the ballot process in Ohio. “Instead of asking voters to repeal the entire law, payday lenders are asking for only a partial repeal of House Bill 545 – the portion that […]
Posted in Ohio
