Fight, fight….
August 11, 2008 | COHHIO, Dayton Daily News, Ohio, industry, regulation, states | Comments (4)Calm down, it’s a non-violent fight we’re talking about. According to this article, it’s about the wording of the Ohio referendum:
In anticipation that they’ll get on the ballot, the payday lenders will go before the Ohio Ballot Board on Thursday, Aug. 14, to try to craft the wording to their advantage and to get the coveted “No” side.
The anti-payday lending forces — a coalition of political leaders and advocates for the poor – will do the same.
Both sides want No because when it comes to statewide ballot issues, if voters are confused, they usually say “No thanks.”
In a referendum, voters are asked if a law passed by the General Assembly should be approved.
Ballot Board member Paul Tipps, a Democrat, said the No side may not matter as much this year because the board is emphasizing clarity and brevity in how issues will be worded.
We’ll keep you posted.
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Yeah, a real honest fight indeed. 5 papers rating the commercial a “0″ on a scale of 0 to 10 in truthfullness.
http://blog.cleveland.com/openers/2008/08/ohioans_for_financial_freedoms.html
That farmer isn’t fooling anyone.
No, Neal, you aren’t fooling anyone. That review of the commercial represents the view of one reporter, not five papers.
And while Mr. Siegel mentions that the average payday loan is more than $100 (it’s about $300 if I’m not mistaken), he doesn’t mention what happened in Oregon, where the recently passed legislation allows an origination fee of $10 per $100 loaned, plus 36% interest, and 80% of the payday loan stores closed. So if the lenders in Oregon couldn’t make it with a $30 origination fee on the average loan, plus 36% interest, how are the Ohio lenders going to keep operating, and paying their employees, when they can only charge a $15 origination fee, plus 28% interest, under HB545?
This isn’t rocket science…
So, now the largest farmer group in Ohio thinks the commerical is misleading. Rocket science it isn’t:
http://www.daytondailynews.com/o/content/oh/story/opinions/columns/2008/08/12/ddn081208mary.html
OK, Neal. Be specific, which part of the commercial is misleading?