Ohio update: not looking good
November 4, 2008 | Uncategorized | Comments (5)We’re heard from people in Ohio who said that a couple of local television stations have already made a call on Issue 5: it is passing. Reminder: A YES vote confirms H.R. 545, the rate cap law. We’ll post an update at around 11:15 ET than call it a night.
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Call it a career. Payday lending is done. You’ve lost Ohio, you’re losing Arizona, and Obama is going to assure that no one else can be caught in your debt trap. Find another way to take advantage of working families. We’ve figured you out.
Jeff, you obviously have never had a need for a payday loan. Or you have abused the system. But if you were a honest consumer of payday advances, you would hardly be celebrating. Don’t speak on it if you don’t understand it. If we could get a loan from a bank, we would. Our only option for emergency cash has been eradicated, through the fault of people like you voting yes when you should of left it blank if it doesn’t apply to you. Thanks a lot for making the lives of hard working Ohioans that much harder.
All you’ve done is take away the best choice available for the people you pretend to care about. Now they will pay more than they were paying for payday loans on bounced check fees, credit-card late-payment and overlimit fees, late rent-payment and utility-payment charges, lost wages and lost employment from being unable to get their vehicle repaired quickly – plus seniors may die from being unable to pay for their medicine when they need it and families may be evicted in the dead of winter – so that idiots like you can feel good that you threw out the greedy payday lending companies which were making a smaller return on their investment than banks and many other kinds of businesses.
Morons.
Let’s see…NY, PA, WV and a bunch of other states don’t have payday lenders and their economies actually seem better than ours. But your right, watch out for loan sharks and all that. Give me a break.
The end result will be that consumers who use the payday loan industry will now pay more in overdraft charges, returned check fees, late fees, over their credit limit fees so on ans so on. In addition many hard working tax paying citizens will be out of work. This does not make sense? You have not figured anything out.