Ohioans For Financial Freedom Files More Than 400,000 Signatures To Give Ohioans Financial Choices and Jobs
August 31, 2008Columbus― Ohioans For Financial Freedom made its voice loud and clear today filing more than 400,000 signatures with the Ohio Secretary of State from Ohioans who want to keep their financial choices and 6,000 good paying jobs. Ohio consumers and volunteers helped unload the boxes and boxes of signatures helping put a Vote No on Issue 5 measure on the November 4 ballot.
“This effort was a great opportunity to hear from Ohioans, and it’s clear from this massive number of signatures there is a strong sentiment among voters that politicians need to stop killing jobs and financial choices in the state – especially when the economy is faltering and businesses are fleeing Ohio, “ said Committee Member Bridgette Roman.“
In signing the petition, Ohioans took part in their democratic right to repeal a bad law (H.B. 545).
“Ohioans have been enthusiastic about this effort because they are tired of government inserting itself where it is not needed,” said Roman. “Ohioans deserve to have financial choices.”
The number of signatures filed is well over the 241,365 signatures from 44 Ohio counties required by law. The signatures provided to the Secretary of State (SOS), are now sent to the local county boards of elections for verification, then back to the SOS for official certification.
Today’s filing of the 400,000 plus signatures comes on the heels of strong endorsements from the Ohio Chamber of Commerce and the Ohio Grocers Association.
With the filing of these signatures, beginning Sept. 1, 2008, consumers will have lending options under two kinds of laws. Ohioans can continue to use short-term lending options under Ohio’s Check-Cashing law taking short-terms loans ($15.00 for a $100.00 loan), or take out a short-term loan at 28% under H.B. 545 and be limited to 4 loans per year, and have their name become part of a statewide government database. The two laws governing these kinds of financial transactions will exist side-by-side just as laws co-exist for many other kinds of competitive financial business in the state such as banks and savings and loans.
Background:
Ohioans For Financial Freedom circulated petitions in Ohio with summary language approved by the Attorney General. A Vote No on Issue 5 will:
- Repeal section (3) of H.B. 545 offering consumers more financial choices
- Allows for short-terms loans to be made under H.B. 545
