Payday Pundit

Cleveland Plain Dealer has its 432nd anti-payday lending editorial out today.   It calls for voting yes on the payday lending referendum.  (Remember, a Yes is to keep the rate cap law, a NO is to repeal it.)  It think it’s fair to say that the paper is worried that the law is going to be […]

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Good grief.The Plain Dealer knows very well that “391%” is nothing but an example – yet it keeps printing this falsification as if it were law. This number is not the current rate cap for payday loans. In fact, this number doesn’t appear in either the old or new laws. 391% is an example made […]

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The paper can’t stand the fact that the payday lending industry won the ballot language wars.  Now they are whining and pointing fingers at the Secretary of State.   Hell hath no fury like a Cleveland Plain Dealer editorial writer scorned.  From the story: 
What irks pro-consumer, yes-on-5 groups is that failing to cite the 391 percent APRs […]

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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?
 

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The Cleveland Plain Dealer, the most vehemently anti-payday lending paper in Ohio, had to write this headline and lead this morning:
Payday Lenders Win Fight on Ballot Language to overturn reforms

Columbus–Chalk one up for the payday lending industry.

Read the rest of the article here.
And the Columbus Dispatch story is here.
 

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The Cleveland Plain Dealer’s Aaron Marshall pans the three amigos (Strickland, Husted, Harris) news conference on Thursday in today’s column: 
(That an interest-rate cap of 28 percent will net pink slips for all 6,000 employees of payday lenders in Ohio has long been the industry’s rallying cry. The companies say there is no way they can […]

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From the AP:
COLUMBUS, Ohio (AP) — Democratic Gov. Ted Strickland and Republican legislative leaders will fight an effort by payday lenders to repeal restrictive caps on the short-term loans they offer.
Strickland, Senate President Bill Harris and Speaker Jon Husted (HYOO’-stehd) will serve as honorary co-chairs of a campaign fighting the repeal of Ohio’s new payday […]

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This latest editorial in the Plain Dealer oozes contempt for business, the Ohio State Senate, the lobbying process, and payday lending customers.   Ohioans are thought of by the rest of the country as being polite, common sense types.  The Plain Dealer editorial board members are obviously exceptions.  Their name calling, elitism, smugness, and vitriole is beyond […]

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A coalition of short-term credit lending businesses in Ohio have hired Former Soliciter General Theodore Olson to take a look at the constitutional implications of Ohio’s short-term lender law. This news release gives the details.
In the release, Mr. Olson said, “The legislation passed by Ohio’s House of Representatives seeks not just to regulate, but to destroy, an […]

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This silly editorial tells legislators to ban payday lenders because a poll done by a Left-wing union says people have a “negative view” of payday lenders. 
Of course, trust in the media, according to public opinion polls, is at 36%.   The Payday Pundit awaits an editorial in the Plain Dealer calling for the Ohio Legislature to ban […]

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