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Ohio Payday Lender Rate Of Interest Cap, Referendum 5 (2008)

Ohio Payday Lender Rate Of Interest Cap, Referendum 5 (2008)

Articles

  • 1 Election results
  • 2 Text of measure
  • 3 Back Ground
  • 4 Help
    • 4.1 Arguments in benefit
  • 5 Opposition
    • 5.1 Arguments against
    • 5.2 Campaign efforts
  • https://www.pdqtitleloans.com/payday-loans-co/

  • 6 See additionally
  • 7 links that are external
  • 8 Footnotes
Ohio Constitution
Preamble
Articles
we • II III that is • VII • VIII • IX • X • XI • XII • XIII • XIV • XV • XVI • XVII • XVIII • XIX • Schedule

The Ohio Payday Lender interest Cap Referendum, also called Referendum 5, was from the November 4, 2008 ballot in Ohio being a veto referendum, where it had been authorized. The measure authorized legislation that capped the interest that is maximum payday lenders may charge at 28% together with optimum loan amount at $500. 1

Election results

Ohio Referendum 5 (2008)
outcome Votes Percentage
a Yes 3,396,968 63.61percent
No 1,943,721 36.39%

Text of measure

The language showed up regarding the ballot as: 2

REFERENDUM REFERENDUM ON LEGISLATION GENERATING CHANGES TO TEST CASHING LENDING, SOMETIMES REFERRED TO AS “PAYDAY LENDING, ” CHARGES, INTEREST RATES AND METHODS

Replace home Bill 545 (H.B. 545), that has been passed away by the Ohio legislature and finalized into legislation because of the Governor, considerably changed what the law states regulating exactly exactly how particular loan providers in Ohio run. (more…)

Posted on September 24, 2020

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