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WKSU's statehouse correspondent Bill Cohen reports
Reporter Bill Cohen
Controversy continues to swirl around some petition circulators on the streets. We're talking about the ones who are helping Ohio's payday loan stores mount a ballot initiative that could eventually let them keep charging a much higher interest rate than a new state law would allow. Click to ListenOther options: Realplayer / Windows Media / MP3 Download(2:05)
Listener Comments:
It is hard to have organized society amidst conflict of interest between two parties or even in a group. It happens that they have contradicted ideas and opinions, perceptions and beliefs. However, due process must prevail and in order to have the right decisions regarding the dilemmas. Illinois governor Rod Blagojevich has likely seen his last payday for awhile, along with his chief of staff, John Harris. Both were arrested by the FBI on federal corruption charges on Tuesday morning. His predecessor, George Ryan, was arrested a few years ago, on corruption charges as well. Blagojevich evidently assumed that he was King of Illinois and was trying to literally sell the Senate seat recently vacated by Barack Obama. According to Illinois law, the governor determines who fills the seat, and Blagojevich figured that it was a quick way to make a buck or two. Residents of the state of Illinois will just have to wait and see. The climate in DC appears to be hopeful for now, but darker clouds are on the horizon for Blagojevich and his buddy, Harris. Click to learn more about Blagojevich, courtesy of Personal Money Store's Payday Loan News. Posted by: lisa o (Spokane, Washington) on December 13, 2008 1:36AM
It's just like any other form of borrowing. If you're irresponsible, you're going to be the one holding the short straw in the end. I've gotten a payday loan before, paid if off on time and no problem. Posted by: Steve (Canton) on November 15, 2008 11:21PM
JOHN IS RETIRED AND I AM LIMITED IN THE WORK I CAN DO BECAUSE OF AN AUTOIMMUNE DISEASE.IF THEY TAKE AWAY THE PAYDAY LOANS THAT MEANS NO MEDICINE TO US.WE CAN'T AFFORD NEW GLASSES FOR JOHN AND I HAVE CATARACTS WHICH I CAN'T AFFORD TO HAVE REMOVED.PLEASE DON'T TAKE AWAY THE PAYDAY LOANS.WITHOUT THEM WE'D BE IN A WORSE PICKLE THAN WE ARE IN.THANK YOU FOR A VOICE IN THIS MATTER Posted by: John (Logan Co. Oh.) on August 30, 2008 11:11AM
I signed the petition because I think people need to decide for themselves on this issue. There has been so much spin and hype around the debate on payday lenders. This piece is a perfect example: itβs based on claims alone. There is no proof, no one claiming they were bribed into signing a petition. It assumes we are so naive as to believe this assumption just because it was printed. Posted by: Josh Stone (Springfield) on August 26, 2008 6:27PM
WITH A 28% CAP ON A $500. THEN, THE TWO WEEK LOAN FEE WOULD
BE $5.85. OHIO'S GOVT CALLS THIS FAIR!! THAT'S BIG LIE BUT HERE'S THE TRUTH. IT'S IMPOSSIBLE TO BREAK EVEN AT THIS RATE BECAUSE OF UNPAIDED RETURN CHECKS. ONE BAD CHECK FOR $505.85 PLUS $10.BANK FEE EQUALS $515.85 LOSTED. TO MAKEUP THIS LOST!! DO THE MATH!
$515.85 DIVIDED BY $5.85 EQUALS 88 LOANS AT $500.
THATS $44,000 IN LOANS TO MAKE UP FOR ONE UNPAID RETURN CHECK. THIS DOES NOT INCLUDE COST OF BUSINESS OR THE FACT IT IS IMPOSSIBLE TO DO 88 LOANS IN THIS BUSINESS Posted by: patrick (cincinnati oh) on August 26, 2008 11:51AM
WE BORROW FROM CASHLAND MONTHLY AND EVEN THOUGH THEY CHARGE US A HEAFY FEE OF 112.50 TO BORROW $800.00 MONTHLY,WE PAY BACK ON TIME EVERYMONTH,IT SHOULD BE UP TO ME AND NOT GOV. STRICKLAND NOR THE STATE TO TAKE THAT RITE AWAY FROM ME, AND SPEAKER HUSTED AND ALL THOSE GOVT LOBBYIEST AT THE CAPITAL WHOOSE TRYING TO SHUT THE DOORS ON PAYDAY LOANS IS HELPING CRUSH OUR STATE ECONOMY EVEN WORSE BY SHUTTING DOWN PAYDAY LOANS, WHICH WILL PUT THOUSANDS OUT OF WORK,ACCROSS THE STATE,SHAME ON YOU,ITS UP TO THE CONSUMER IF HE OR SHE CAN AFFORD THE PAYBACK FEES MONTHLY, Posted by: ROBERT RAY (SPRINGFIELD OHIO) on August 24, 2008 10:47AM
This was truly wonderful yesterday! It was quite exciting to have such dignitaries visiting the Center yesterday to make the Broadband announcement. Politica...
Dr. Paul Edmiston has developed a form of glass which captures and remediates PCE and TCE in groundwater.
Not sure who actually owns this problem, but will loo...
It's about time! The horse industry has been failing for years due to the lack of slots and Ohioans leaving in droves to play in other states. Playing slots i...
It is refreshing to see a member of Congrfess puttin the feet of the person who whould be responsible for overseeing and regulating the use of the bailout money...
It's sad and even shameful for Akron that this personal pique ever forced an election in the first place. But in the end it says good things about the people of...
Zat so? 'Cuz why, I received just such a phone call on June 18!
If it wasn't from the Police Dept., then someone is impersonating that group. Sounds kinda cr...
I grew up in Stow. There the word |Cuyahoga| is only two syllables. |Caw' guh|. It's sort of like the way |Worcester| in Massachussetts is pronounced |Woos' ter...
Posted by: lisa o (Spokane, Washington) on December 13, 2008 1:36AM
Posted by: Steve (Canton) on November 15, 2008 11:21PM
Posted by: John (Logan Co. Oh.) on August 30, 2008 11:11AM
Posted by: Josh Stone (Springfield) on August 26, 2008 6:27PM
BE $5.85. OHIO'S GOVT CALLS THIS FAIR!! THAT'S BIG LIE BUT HERE'S THE TRUTH. IT'S IMPOSSIBLE TO BREAK EVEN AT THIS RATE BECAUSE OF UNPAIDED RETURN CHECKS. ONE BAD CHECK FOR $505.85 PLUS $10.BANK FEE EQUALS $515.85 LOSTED. TO MAKEUP THIS LOST!! DO THE MATH!
$515.85 DIVIDED BY $5.85 EQUALS 88 LOANS AT $500.
THATS $44,000 IN LOANS TO MAKE UP FOR ONE UNPAID RETURN CHECK. THIS DOES NOT INCLUDE COST OF BUSINESS OR THE FACT IT IS IMPOSSIBLE TO DO 88 LOANS IN THIS BUSINESS
Posted by: patrick (cincinnati oh) on August 26, 2008 11:51AM
Posted by: ROBERT RAY (SPRINGFIELD OHIO) on August 24, 2008 10:47AM