I live in ohio and this is one of the issue on the ballot that day and I’m on the fence. They are trying to lower the rate they can charge the customers for the short term loans and by doing that the lenders are saying they will go out of business and it will cost 6,000 jobs. Obviously that’s not a good thing but is it a good thing to charge someone 291% on a short term loan? Predatory lending anyone? They say by taking away these loans that people need for unexpected expenses theft will go up and people will start to bounce checks and that makes sense but reality is most of the people using these places are repeat customers not one time emergency customers! What do you think?
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Really? You would take the word of loan sharks? Vote against the scumbags and don’t even feel bad about it.
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personally, i feel that they are saying it will cause them to shut down to scare people into voting against it. they will still have customers. i think it’s a good idea for there to be regulation on those places because they truly try to rip people off.
Payday lenders are nothing but legal loan sharks. Let them starve.
Banks charge you $25.00 for a one dollar overdraft, utilities charge you for being late with a payment. Figure up the interest on those and you will have your answer.
If anyone is resorting to payday loans to survive, it’s already too late for them .
Vote for it they wont close the Doors even if they only get 15% and if they do there will Be 10 more Companies to take there Spot
I agree let ‘em starve and dont think twice!
Its a damn racket that me and my husband got caught up in there for awhile, we were taking out payday loans to pay back the other payday loans it got so crazy!
We got all caught up finally and vowed to NEVER use them again!
Somehow society and the economy have prospered in areas where a 291% APR is called loan sharking and is a felony… Vote against the loans.
I would consider who is making these claims that predatory lending is “helping” the community, and what they stand to gain.
Unless there are guns being held to heads, no one in their right mind would take a loan at 291%. These have to be some desperate people. People read the terms when they sign the sontract, so that is their deal. If the interest rate is too high, don’t sign. I don’t think the rate should be mandated lower.
If you can come up with 291% interest in the short term, there is obviously some kind of disposable income there. Maybe that person should take responsibility and save little by little to take care of their emergencies.