6000 jobs will be lost in Ohio

As I wrote about yesterday if the new Ohio Payday law goes into effect September 1^st, over 6,000 people will be put out of work in Ohio. The Community Financial Services Association of America announced last week a referendum to overturn Strickland’s bill.
To do so, the committee must collect 241,365 valid signatures before Sept. 1 to qualify for the November’s ballot.

That’s a lot of signatures! The Payday industry and the Ohio Legislators made a bad move here. They should have compromised early on. Instead, much needed responsible payday relief looks like it is going bye for people in Ohio, and over 6000 more people will need to be absorbed in the work force.