Debate heating up in Ohio
October 12, 2008 | Bill Faith, Newark Advocate, Ohio, industry, industry critics, media coverage, regulation, states | Comments (4)This article contains some video of Bill Faith, anti-payday lending extremist, and Ted Saunders of CheckSmart, an Ohio-based payday lender. Click on the links a little bit below the pictures.
We think Saunders won this hands down.
219,000 more signatures filed in Ohio!!!
October 1, 2008 | Bill Faith, Columbus Dispatch, Ohio, industry, industry critics, media coverage, positive media coverage, regulation, states | Comments (0)Take that, Bill Faith. From the Columbus Dispatch story:
A payday lending coalition pushing to block new industry regulations today filed an additional 218,855 signatures, making it likely the referendum will qualify for the November ballot.
And you people were worried.
Comment of the Day
September 24, 2008 | Bill Faith, Uncategorized, industry critics | Comments (2)One of our readers doesn’t like Bill Faith, Ohio anti-payday lending zealot:
I wonder what the politicians of Ohio,some of which did a complete 360 in about a five day period on this issue are saying now?This is going to make the ballot and more people are saying this could get overturned.Bill Faith is not very popular right now with the politicians he duped them into thinking this law was needed.They should have looked at the facts,less than 10 consumer complaints a year in Ohio about payday lending filed,also the independant studies by the federal reserve,econmists,and the thousands upon thousands of phone calls letters and emails they recieved.Instead they listen to bloggers and a few people that didnt use the product properly.So with that information in hand the politicians of this state decided to scrap 6000 jobs and take away peoples financial freedom and choices.Thank goodness Ted Strickland our czar in Ohio had the answer to the economic woes……Thats right……KENO. What kind of leaders do we have in this state?How did they get elected?The finger pointing in this state right now is at the payday lending indusrty but when this gets overturned where will the fingers point?At a floundering Gov,House reps who didnt listen to the facts,A biased media who made mountains out of mole hills,No my guess is the fingers will all be pointed at Mr.misinformation himself Bill Faith and even though it should be shared,THATS A GOOD START.
The Soviet propaganda machine
September 19, 2008 | Bill Faith, COHHIO, industry critics | Comments (0)Here’s the website of our Ohio opposition. Note the lie in the second bullet on top that H.R. 545 “ensures small loans will still be available.” How can that be assured? Isn’t it up to businesses to decide if they can make them available?
Comment of the Day
September 16, 2008 | Bill Faith, industry, industry critics | Comments (0)Regarding the Payday Pundit’s post below about having computer frustrations today:
See these payday lenders beating up a poor computer.This is an example of how they pretend to be nice,but if you freeze up on them they kick you……It may seem funny but Bill Faith is probably trying to concoct some type ofnegative pub right now about the evil payday lenders and how they attack computers.you know with good ole Bill ,the truth doesnt matter that much.So please tell everyone how sorry we are for thinking about kicking or cox publishing will front page this story.Not to mention Bill Faith will get another big time endorsement like the round table ,threatend computers united..BE CAREFUL TREAD LIGHTLY.LOL
Ohio showdown on Friday
September 15, 2008 | Bill Faith, COHHIO, Columbus Business First, Ohio, industry, industry critics, media coverage, regulation, states | Comments (1)A hearing on the signature gathering issue has been scheduled. From the Columbus Dispatch story:
Secretary of State Jennifer Brunner has tapped a well-known Columbus attorney to decide whether to recommend that a number of payday lending signatures should be tossed out for a paperwork violation.
The Yes on 5 committee, which is fighting a proposed referendum by the payday industry that seeks to partially overturn tough, new regulations on the short-term lenders, is arguing that California-based Arno did not properly file what is known as a Form 15. Ohio law requires that anyone who is getting paid to supervise or organize a signature-gathering effort for a statewide referendum must file the form. Arno collected some of the names for the referendum effort, which needs 241,366 valid signatures to qualify for the ballot.
Karl Schneider, a partner in the firm of Maguire & Schneider, has scheduled a hearing for Friday morning, when he will listen to arguments by the Yes on Issue 5 committee as to why signatures collected by Arno Political Consultants should be invalidated.
The Payday Pundit will talk to people in Ohio and post more on Tuesday about what this all means.
Ohio opponents throw hail mary pass
September 12, 2008 | Bill Faith, Cleveland Plain Dealer, OH CRL, Ohio, industry, industry critics, media coverage, regulation, states | Comments (2)This time they are trying to get the referendum thrown off the ballot through a legal manuever involving the signature gathering process. From the Cleveland Plain Dealer story:
Secretary of State Jennifer Brunner said she will appoint a hearing officer to decide whether consultants hired to collect signatures to get the payday lending measure on the ballot properly filed the petitions with her office.
If they did not, Brunner could invalidate the signatures and strip the referendum from the ballot. Her decision is expected by Sept. 25.
The referendum seeks to repeal a law capping interest payday lenders can charge on loans at 28 percent and revert to previous practice, which allowed the lenders to charge rates and fees that amount to a 391 annual percentage rate.
ackers of the new law, the Vote Yes on Issue 5 Committee, said some consultants hired by Ohioans for Financial Freedom — the payday lenders — to collect signatures did not file a necessary form.
Anyone supervising the collection of signatures must file a Form 15, which asks for the circulators’ names and addresses and the names of their employers before they can start collecting signatures.
The secretary’s office said it cannot find any evidence that a Form 15 was filed by Arno Political Consultants, a California firm hired by the lenders to collect many of its signatures.
“One of the penalties if you don’t file the Form 15 is a misdemeanor, but separately, you could get thrown entirely off the ballot,” said Sandy Theis, spokeswoman for the Vote Yes on Issue 5 Committee. The group had filed a public records request asking to see the form.
The group asked Brunner “to throw them off the ballot, and if you can’t do that, then at least throw out the signatures collected by this group,” Theis said.
Brunner instead appointed a hearing officer who will hear from both sides before making a recommendation to Brunner.
The anti-payday lending crowd has given up on trying to persuade Ohio voters.
Update: Here’s the Dayton Daily News story
Comment of the Day
September 2, 2008 | Bill Faith, Ohio, industry, industry critics, regulation, states | Comments (0)422,000 PEOPLE WOW just goes to show how politicians in this state are not doing the will of the people.Widner and jacobson look pretty bad right now cause they never expected the publics anger over this unwanted piece of legislation.SERVES THEM RIGHT and Bill Faith explain 422,000 signatures you advocate of the people???????And for these guys to say that people arent smart enough to read and understand the ballot language STOP TRYING TO MAKE OUR DECISIONS FOR US ITS OUR CHOICE
“…a strong sentiment among voters….”
August 31, 2008 | Bill Faith, COHHIO, Columbus Dispatch, Ohio, customers, employees, industry, industry critics, media coverage, states | Comments (1)That what the 400,000 signatures represent. The Columbus Dispatch story is here:
“This effort was a great opportunity to hear from Ohioans, and it’s clear from this massive number of signatures there is a strong sentiment among voters that politicians need to stop killing jobs and financial choices in the state,” said Bridgette Roman, legal counsel for Dublin-based Checksmart and a lead member of the payday coalition.
A “no” vote on the issue would allow lenders to continue charging a 391 percent annual interest rate ($15 per $100 on a two-week loan). A “yes” vote would limit lenders to a maximum 28 percent plus a $15 origination fee on a two-week loan. The fee difference on a $300 loan is $45 versus $18.
More yada, yada, yada from Ohio “consumer” groups
August 22, 2008 | Bill Faith, COHHIO, Cleveland Plain Dealer, Ohio, industry, industry critics, media coverage, regulation, states | Comments (0)This time they’re asking for a probe into the signature gathering process of the pro-referendum team. This tactic is standard fare in these fights. Probe away. And while officials are at it, how about a probe into Bill Faith and the anti-payday lending groups? Where do they get their money?
