To the Editor:

Based upon the testimony presented in the Ohio Senate Finance
Committee on May 7, the evidence is overwhelming: Ohio wants and
needs payday loans. The parade of distinguished professors, business
owners, and minority community leaders presented nothing but factual
evidence on the benefits of the product, the pitfalls if it were to
be banned, while debunking the scurrilous falsehoods presented by
opponents.

If the Senate passes SB 545, it would be solely for political
expediency, for which those Senators should be ashamed. We already
see this game at play. Senator Jacobsen, a proclaimed opponent who
repeatedly demonstrated his ignorance during the hearing, replaced a
Committee Member who understood the facts about payday loans.

SB 545 is an ill-conceived piece of nonsense that makes for bad
public policy. While additional consumer protections are necessary
and right, SB 545 is the equivalent of treating dandruff by
decapitation. Meanwhile, Gov. Strickland demonstrates the most
blatant double-standard in Ohio history by proclaiming he is
“protecting the poor” from payday loans, while simultaneously
encouraging them to gamble at Keno.

Senators, do what’s right for Ohio: vote NO on SB 545, and propose
real reform.

Greg Fay
Owner Hometown Cash Advance