Monthly Archive for Ohio
Ohio Stories Posted in July 2008
Payday Lenders Sue To Get OK To Start Petition Drive
Category: Initiative and Referendum · State: Ohio · Source: Columbus Dispatch
Frustrated by delays in getting the approval needed to begin collecting signatures for a ballot referendum, the payday-lending industry filed suit yesterday to cut Ohio Attorney General Nancy H. Rogers out of the petition process. Ohio law gives Rogers up to 10 business days to review and certify as truthful a petition summary that the Reject HB 545 Committee will use to collect the 241,365 valid signatures it needs to get a referendum on the ballot. The committee wants to overturn all or part of a new law that would lower the interest rate charged by payday lenders from an annualized 391 percent ($15 per $100 on a two-week loan) to 28 percent.
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