Payday Pundit

The National Taxpayers Union has posted a copy of a letter they recently sent to members of Ohio’s House of Representatives.

The letter calls on Ohio lawmakers to “put their trust in the free market and the common sense of working people who understand that taking out a payday loan can be a sound financial option, often cheaper than a bounced check fee or a utility bill late charge. A punitive interest rate cap will not help consumers – it will make credit less accessible to Ohioans and cost taxpayers millions of dollars. A higher tax burden is something that NTU’s 13,600-plus Ohio members, and our 362,000 members throughout the country, actively oppose.