Here is a complete text of a letter to the editor in today’s Cincinnati Enquirer:

PAYDAY LENDERS PROVIDE NEEDED SERVICE

The front-page headline “Bill would crimp payday lenders” (May 1) was wrong; it should have read “Bill would kill any option for payday loans for people who need them.” Our government representatives are again protecting us from us, by mandating how much interest can be charged for a payday loan.

As quoted in The Enquirer, “a lobbyist for Ohio Financial Service Centers Association said the 28 percent cap will put payday lenders out of business, eliminating 6,000 jobs.”

There are many people out there who need these services; people who have no other option for credit, but obviously need a loan. They are a higher risk simply because of their condition. Traditional credit facilities often won’t touch them. If the service is driven out of the state by this legislation, where will these people go when they need that help?

This legislation is a bad idea.

Chris McCormick, Amelia