Ohio anti-payday lending group looks like they’re in it for themselves
May 13, 2008 | COHHIO, Ohio, industry critics, positive media coverage, states | Comments (2)Activist Cash, a Washington, DC monitoring group that looks at the financing of activist groups, issued a news release tonight regarding the Ohio Coalition on Homelessness and Housing, the leading opponent of payday lending in Ohio. From the release:
Here are the facts about COHHIO:
· OHHIO spends more money on salaries than it does on programs to help low-income people;
o In 2006, of the $1,352,631 in total revenue, less than one-third
($420,838) was spent on programs. $529,568 was spent on salaries. According to Give.Org, a group that sets guidelines for charities, a group should spend at least 65% — not 32% — of its expenses on programs.
· COHHIO receives most of their funding from state and federal government agencies;
o In 2006, COHHIO received $412,318 from the OH Department of Development, $74,320 from U.S. Department of Housing and Urban Development, $59,300 from Ohio’s Department of Mental Health and $22,265 from the Workers Compensation Administration.
· COHHIO’s so-called “coalition” includes some organizations without phone numbers, organizations that are listed multiple times, and organizations that have confirmed they have not supported the group’s position against payday lending.
Where is the Ohio media on this? Why does this group have any credibility with them?
Comments»
The Payday Companies are absolute liars and hard-core loans sharks. If they were not, then why would they so adamantly defy the government’s requests. Also, their tactics on defending their position is dishonest. They are telling people that they want to continue charging outrageous interest rates. They make it sound like 6,000 employees will lose their jobs. Join the club. Many companies have gone under. Ohio has been hit hard. But now is the time to be creative and honest. Let’s look at the real reasons behind their actions. They want to continue to operate freely as legal loan sharks. They do prey mostly on the poor and repeat customers. Many people have been stuck in the cycle for years. Ask any of these people and they will tell you they want out. Think Ohio.
We challenge you to find one lie in the post. Every fact about COHHIO is from the public records. And defying government’s requests? That’s done by American citizens every day. It’s consitutionally protected under the first amendment.