Friday, Sep 30, 2016
One of America's Great Newspapers ~ Toledo, Ohio

State

Ohio activist says payday industry misleading voters

COLUMBUS, Ohio A consumer activist says the payday loan industry is misleading voters in an effort to repeal a new law that puts restrictions on lenders.

Payday lenders are trying to collect enough signatures to force a vote on the issue in November.

Bill Faith, executive director of the Coalition on Homelessness and Housing in Ohio, says a summary of the proposed ballot issue doesn't mention that the new law caps annual interest rates at 28 percent. It also doesn't mention that payday lenders had been able to charge rates that worked out to 391 percent.

Kim Norris, spokeswoman for the ballot issue's supporters, says the lenders are confident the Ohio attorney general's office will approve the proposed ballot as it is written.

Click to comment

Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem?

Temporibus autem quibusdam et aut officiis debitis aut rerum necessitatibus saepe eveniet.

Copyright © 2015 Toledo Blade

To Top

Fetching stories…