Owens: Vote “NO” on Issue 5
DELAWARE, OHIO - Robert Owens, the Independent candidate for Ohio attorney general, is urging all Ohioans to vote “NO” on Issue 5. A “NO” on Issue 5 would repeal legislation that crushes payday lending businesses and will kill more than 6,000 jobs across Ohio.
“First and foremost, this is about fundamental economic freedom - for consumers and small business,” said Owens. “People hurting in this economy should not have to choose between bouncing a check, going to a pawnshop, or patronizing underworld loan sharks. If someone needs an emergency loan they must have a lawful way to get one.”
In two broadcast debates, Owens sharply criticized both his opponents in the Attorney General race who have publicly supported Issue 5. Owens alleges the party representative candidates were influenced by contributions from large banking interests.
A study by the Federal Reserve Bank found that when the state of Georgia enacted similar legislation, banks collected an additional $36 million in bounced check fees.
Video news footage of all three candidates’ position on Issue 5 can be found online at owens2008.com/issue5
“First and foremost, this is about fundamental economic freedom - for consumers and small business,” said Owens. “People hurting in this economy should not have to choose between bouncing a check, going to a pawnshop, or patronizing underworld loan sharks. If someone needs an emergency loan they must have a lawful way to get one.”
In two broadcast debates, Owens sharply criticized both his opponents in the Attorney General race who have publicly supported Issue 5. Owens alleges the party representative candidates were influenced by contributions from large banking interests.
A study by the Federal Reserve Bank found that when the state of Georgia enacted similar legislation, banks collected an additional $36 million in bounced check fees.
Video news footage of all three candidates’ position on Issue 5 can be found online at owens2008.com/issue5
Forget if you agree with pday loans or not- FOCUS on the fact that the Ohio General Assembly thinks they have the right to control what financial products are available to the citizens of Ohio. Big brother style.
Forget if you have used a PD loan or not– FOCUS on the fact that other consenting adults do and are capable of making their own decisions, based on their individiual situations. Who are we to say no, you can’t use that credit card? Or no you can’t use that bank?
Forget everything else — FOCUS on the fact that eliminating payday loans DOES NOT eliminate the need for short term financial options. I bet 99.9% of the OGA doesn’t have to worry about the day to day necessities the rest of are dealing with. They have insurance, pensions, well paying jobs.
Forget about the Pday loan argument — FOCUS on the controlling and spending of our household money by the state. Considering our current economic situation… I vote for less intrusion!! PLEASE let me manage my own darn $$ since the gov’t has shown they are not responsible, accountable or budget conscious. Ohio>> 60M in debt!!
Forget about the Pday loan side– FOCUS on what else the government is going to decide in the future (under the guise of “paternalism”) that we aren’t capable of handling as adults. Restricting how much can be spent on food? alcohol? cigarettes? housing? gambling? clothes?
FOCUS on the fact that the OGA is intruding on our personal financial decisions… where does it stop?? Why do they think they know better what will work for us than we do? We live it every day!!!
The Issue of 5 is waaaay bigger than PD Loans >> its about Financial Freedom of Choice, which I consider to be a BASIC FUNDAMENTAL RIGHT!
***NO on ISSUE 5!****
http://www.buckeyeinstitute.org/article/1238
Forget if you agree with payday loans or not - FOCUS on the fact that the payday lending industry thinks they can throw millions of dollars into a deceptive advertising campaign and BUY their way out of having to abide by BIPARTISAN legislation that our state legislators and Governor passed to help PROTECT the people of Ohio against a predatory industry and inherently faulty financial product.
Issue 5 isn’t about “financial freedom,” as the payday industry likes to claim. Consumers who get trapped in a mountain of inescapable high-interest payday loan debt are anything but free.
The payday lenders like to claim that they are the only alternative some Ohioans have. That’s just not true. Tennessee-based payday lender “Check Into Cash Inc.” told the SEC when the company planned to sell stock in 1998: “Customers have access to alternative sources of cash to satisfy their short-term financial needs but prefer [Check Into Cash's] simple, convenient, confidential service.”
Vote YES on Issue 5.
Ummm yeson5— you just proved my point!!!! LOL “Customers have access to alternative sources of cash to satisfy their short-term financial needs but prefer [Check Into Cash's] simple, convenient, confidential service.”
So Adults weigh their options and then decide what works best for them— what a novel mature approach!!! And PD loans are fast, private and easy!!!
***VOTE NO on ISSUE 5!!!***