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Payday lenders request clarity on repeal petition
Tuesday,
July 15, 2008 7:26 AM
The Columbus Dispatch
DispatchPolitics
The supporters of a proposal to repeal a section of Ohio law cracking down on payday lenders
won't take "yes" for an answer.
The payday lenders' group yesterday asked Attorney General Nancy H. Rogers to "define the precise language" that would be acceptable on a repeal petition. The unusual thing about the request is that Rogers already has approved language submitted by the committee on a third try. The approved version focuses only on the section capping interest rates at 28 percent annually, as opposed to the 391 percent allowed under previous law. In the meantime, opponents of the repeal -- those who support the new law, which would take effect in September -- have formed a "truth squad to correct the false and misleading information used in the payday lenders' campaign." The Ohio Coalition on Homelessness and Housing in Ohio, which is spearheading opposition to the payday lenders, criticized the claim that the first two versions of the petition language were tossed because they were either too long or too short. Spokeswoman Sandy Theis said the wording was rejected because it was inaccurate, imprecise, unfair and not truthful -- issues unrelated to length. The payday lenders must gather valid signatures from 241,365 registered voters to qualify for the Nov. 4 ballot. -- Alan Johnson ajohnson@dispatch.com Story toolsToday’s Top Stories
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