Payday lending is a plague

Payday lending is a plague

EDITOR:

In his Oct. 20 letter, Tim Miller, communications director for the Center for Consumer Freedom, a front for the payday lending industry, urges voters to protect personal rights by allowing payday lenders to continue operating in Ohio.

Being preyed upon in a time of need by usurious lenders charging 391 percent interest is not consumer freedom. The “right” Mr. Miller is seeking to defend is not yours or mine, but an unscrupulous industry’s self-proclaimed right to take advantage of hard-working consumers by ensnaring them in a debt trap that ultimately drives many into bankruptcy.

Payday lending, like its sister predatory mortgage lending, is a product of our 15 year bender with laissez faire, buyer beware, capitalism. The hangover from the predatory mortgage excesses, including foreclosures and tight credit, will plague us for years. Many economist see unsecured credit, which includes payday lending debt, as the source of our next financial crisis.

Fortunately, Ohio legislators in a remarkable display of bipartisan foresight passed House Bill 545, one of the most comprehensive and progressive pieces of consumer legislation in the country to eradicate the toxic effects of payday lending and protect Ohio consumers by capping the allowable interest rate on small loans at 28 percent.

Funded by millions of dollars from out of state companies, the payday lending industry is now seeking to repeal House Bill 545 through referendum.

Don’t allow them to succeed. Vote “YES” on Issue 5 and protect the law that will protect you, your family and your community from these predators by outlawing payday lending in Ohio.

JAMES B. CALLEN

Mineral Ridge

Boardman levy is clearly a matter of public safety

EDITOR:

On behalf of the Boardman Fraternal Order of Police Lodge 43, I strongly urge all Boardman Township residents to support the upcoming Police and Fire Levy by voting yes on Nov. 4. We are pleased that this levy has the endorsement of both the Boardman Civic Association and the Boardman Business Advisory Committee.

Just two years ago, Boardman Township had 63 full-time police officers. The U.S. Department of Justice says that a community Boardman’s size should have 76 officers to provide adequate service and protection. Due to unfilled retirements and resignations, the Boardman Police Department currently has only 51 officers from the chief down. Several more officers are anticipated to leave in the next few months.

With the passage of this levy, the township trustees have stated that up to 10 police officers will be hired, and 6 laid off firefighters will be called back to work. The hiring of new officers will ease critical staffing shortages as well as enhance the police department’s ability to conduct much needed proactive crime prevention activities, as opposed to just reacting to crime that has already occurred.

Despite these tough economic times we are all encountering, the passage of this levy is important for the safety and well-being of our community.

Please support your police and fire departments Nov. 4.

DARYN TALLMAN, President

Boardman FOP Lodge 43

Boardman