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Video: 'Modern Warfare 2' hits the streets
Jennifer Brunner helps payday lenders get their way
Published on Sunday, Aug 17, 2008
Then, there was her decision-making at the Ohio Ballot Board regarding Issue 5, the bid by payday lenders to reverse helpful changes approved by state lawmakers to restrict the industry.
Brunner fumbled the ballot language by siding against clarity, the language making no reference to the centerpiece of the legislative debate: the 391 percent annualized interest rate that infuriated so many lawmakers. The ballot issue does cite the payday practice ''resulting in a total charge for a loan that substantially exceeds an equivalent APR of 28 percent'' (the limit set by the legislature). The ''substantially'' hardly captures the whopping 391 percent.
When Nancy Rogers, the interim attorney general, first rejected the proposed language of payday lenders, she noted the absence of any reference to 391 percent. She wouldn't tolerate deception. Yet that is the end result, Jennifer Brunner delivering an assist.
Get the full article here.
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