9/13/2008, 6:27 p.m. EDT
The Associated Press
COLUMBUS, Ohio (AP) — Supporters of a recently signed law that would restrict payday lenders will get another chance to boot from the November ballot an initiative that would overturn part of the law, Ohio’s elections chief said.
Secretary of State Jennifer Brunner said Friday that she’ll appoint a hearing officer to decide later this month whether consultants hired to collect signatures to place the measure on the ballot properly filed the petitions.
Gov. Ted Strickland in June signed a law that would restrict the annual percentage rate that lenders can charge to 28 percent, and limit the number of loans customers can take to four per year. It is one of the strictest payday lending laws in the nation.
