The Ohio Payday Lender rate of interest Cap Referendum, also called Referendum 5, had been from the 4, 2008 ballot in Ohio as a veto referendum, where it was approved november. The measure approved legislation that capped the interest that is maximum payday lenders may charge at 28% as well as the optimum loan quantity 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 in the ballot as: 2
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