Pass Issue 5

In recent weeks, the public has been lambasted with TV advertisements about Ohio's Issue 5 on the Nov. 4 ballot.

It is one of those issues that has become very confusing.

The latest campaign by its backers present the opinion that the issue is about jobs. Earlier this year, the same backers pushed to get their issue on the ballot that would overturn the new state law by claiming the law was about an individual's rights.

Issue 5 is about "Pay Day Lenders" and House Bill 545, which both Republicans and Democrats approved to protect Ohioans against 391-percent interest rates.

HB 545 may have been one of the best pieces of legislation our state government has approved in years to protect Ohio consumers.

Voters must now vote "Yes" to keep this legislation and regulate Pay Day Lenders. The House Bill restricts pay day loans to a 28-percent interest cap instead of the 391-percent interest some companies charge.

Passage of Issue 5 allows the state to regulate the Pay Day Lenders. It also will keep friends and neighbors who turn to these businesses for short-term loans from falling into a financial black hole if they miss a payment.

After the financial disaster on Wall Street, we need more regulations like this in place - not less. Don't be confused - vote Yes on Issue 5.