Payday Pundit

The Dayton Daily News is waking up to the fact that Ohioans don’t have great alternatives to payday loans. Here’s a quote from an Ohio Credit Union League official, Becky Hart: 
“Credit unions are not going to be the solution for everybody in Ohio,” Hart said. “We’re not trying to be payday lenders, but we do know […]

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Who is this guy?

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The Dayton News does breakdown of where the money went so far in the Ohio campaign to overturn the state’s rate cap law.  Nothing shocking here.  

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Here are the details. 

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A left-wing non-profit surveyed credit counselors and calls it a “report.”  Guess what, this research leads them to concluded that Ohioans need a loan rate cap to solve all their economic problems.

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From today’s Dayton Daily News:
Payday industry no laughing matter 
Re “Latest payday lending TV commercial has Ohio farmers riled up,” Aug. 12: I’m glad columnist Mary McCarty found it funny to mock the use of a farmer in a payday industry commercial, because I certainly didn’t. As a two-year employee of a payday lending company, I […]

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The editorial writers are stroking out over the fact that the Ohio Chamber of Commerce supports free enterprise.   From the hysterical editorial: 
It’s not shocking that the Ohio Chamber of Commerce has lined up with the payday lending industry. The chamber is reflexive in its support of anything that is “pro-business” no matter how extreme or loosely […]

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Letter to editor published in today’s Dayton Daily News:
Which is bigger drain on economy?
In an Aug. 3 Dayton Daily News article, Sandy Theis claimed that the effort to urge voters to repeal part of Ohio’s new restrictions on the payday industry is “a drain on the economy.” That’s a classic example of the pot calling […]

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http://www.daytondailynews.com/search/content/oh/story/opinions/editorial/2008/08/25/hjn082508voice.html
Pubished in Dayton Daily New’s Community Voice:
Monday, August 25, 2008
Paragraph 8 of the Aug. 19 editorial about payday lenders states a $300 loan for two weeks at 28 percent APR is $18 profit for the payday lenders. Actually $18 extra to the lender would be 156 percent interest while 28 percent APR would leave the […]

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Hey, whatever it takes to win.  That amount will pale in comparison to how much the presidential candidates will spend to win Ohio.    We like the comments to this story, though, especially this one:
I have not yet been asked to sign a petition, but would based on personal experience. I don’t run around getting these […]

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