For immediate release:

Thursday, Oct. 9, 2008

 

 

National Taxpayers Union Says Driving Ohio Payday

 Lenders Out of Business is Bad for Taxpayers

 

 

Columbus, Ohio—Ohioans for Financial Freedom today welcomed the educational efforts of the National Taxpayers Union (NTU), which recently published a guide highlighting growing public concerns over H.R. 545, the law that would effectively eliminate the payday lending industry in Ohio.  NTU is the latest in a long line of organizations that have recognized that H.R. 545 is bad for taxpayers.    

 

The NTU issued a ballot guide which says specifically:

 

–Issue #5 asks voters to approve a law that effectively puts payday lending services and their employees out of business in Ohio by making it unprofitable to offer these loans. If payday loans are driven out of existence, there could be additional political pressure to boost government assistance programs when Ohioans can no longer help themselves because the most common – and often only – method to help cover unplanned expenses has been eliminated.

 

Kim Norris, spokesperson for Ohioans for Financial Freedom, said, “We’re grateful that the nation’s most respected taxpayers’ organization is informing Ohioans about the drawbacks of Issue 5.  NTU recognizes that denying citizens financial choice ultimately hits taxpayers. “Ohioans are concerned about jobs, privacy, and access to short-term credit.   A ‘No’ vote on Issue 5 is in the best interests of taxpayers and consumers.” 

 

Join with thousands of Ohioans, consumers, businesses at www.Ohioans4FinancialFreedom.com for a Vote No on Issue 5.