Brunner Plugs in Payday Lobby's Smoke & Mirror Machine
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Categories: Action Alerts, Consumer and Worker Protection, Economic Fairness and Security, Honest and Ethical Government, Election Reform, Media Accountability, Workers' Rights, News, Front Page
Categories: Action Alerts, Consumer and Worker Protection, Economic Fairness and Security, Honest and Ethical Government, Election Reform, Media Accountability, Workers' Rights, News, Front Page
Check out the Akron Beacon Journal's editorial, entitled "Deceptive language: Jennifer Brunner helps payday lenders get their way."
http://www.ohio.com/editorial/opinions/27065534.html
I was stunned to learn that the individual chosen by the people of this state to accurately inform voters on ballot abdicated her duty last week. The language adopted by the ballot board is incomplete, confusing and unworthy of an issue as contentious as payday lending.
Payday lenders are required to put 391% APR on their disclosure forms for a two week loan. If it's good enough for payday borrowers, it's good enough for voters. Ms. Brunner redeemed herself, if only slightly, to acknowledge that a YES vote on issue 5 would reduce interest rates from 391% to 28%.
If the language remains, let's hope the Secretary of State helps to strike names off petitions of people around the state who were misled into signing. Even if Ms. Brunner didn't get it right last week, you can still get it right on November 4th. A 'no' vote allows 391% interest to persist while a 'yes' vote will end predatory payday lending in Ohio. I trust Ohio voters will see through the payday lenders' smoke and mirrors -- it's just too bad the Secretary of State had to plug in the machine.
Vote Yes on Issue 5!
http://yesonissue5.org
http://www.ohio.com/editorial/opinions/27065534.html
I was stunned to learn that the individual chosen by the people of this state to accurately inform voters on ballot abdicated her duty last week. The language adopted by the ballot board is incomplete, confusing and unworthy of an issue as contentious as payday lending.
Payday lenders are required to put 391% APR on their disclosure forms for a two week loan. If it's good enough for payday borrowers, it's good enough for voters. Ms. Brunner redeemed herself, if only slightly, to acknowledge that a YES vote on issue 5 would reduce interest rates from 391% to 28%.
If the language remains, let's hope the Secretary of State helps to strike names off petitions of people around the state who were misled into signing. Even if Ms. Brunner didn't get it right last week, you can still get it right on November 4th. A 'no' vote allows 391% interest to persist while a 'yes' vote will end predatory payday lending in Ohio. I trust Ohio voters will see through the payday lenders' smoke and mirrors -- it's just too bad the Secretary of State had to plug in the machine.
Vote Yes on Issue 5!
http://yesonissue5.org
