For immediate release: Monday, October 20, 2008
Contact: Jack Boyle (440) 552-2017

 Issue 5 Will Limit the Financial Decisions of Ohio Families, Says Free- Market Group  

CLEVELAND - Americans for Prosperity (AFP), the nation’s premier grassroots organization committed to advancing every individual’s right to economic freedom today announced its opposition to Issue 5, a referendum on the Ohio ballot that would cap the Ohio payday loan industry's interest rate at 28%.

 “The government has no business tracking Ohioans’ personal financial decisions and credit choices,” said Jack Boyle, Ohio director of Americans for Prosperity, “especially here in Ohio, where state government has experienced security breaches within its databases over the past year.” 

The grassroots free-market group believes the failure of Issue 5 on Election Day is necessary for Ohioans to preserve the ability to make their own financial decisions privately without their loan records being tracked in a statewide government database.

“Issue 5 is just one more way state government is trying to control the way Ohioans spend their money,” said Boyle. “We need to come up with free market solutions to regulate the payday loan industry.”

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Americans for Prosperity (AFP) is the nation’s premier grassroots organization committed to advancing every individual’s right to economic freedom and opportunity. AFP believes reducing the size and scope of government is the best safeguard to ensuring individual productivity and prosperity for all Americans. AFP educates and engages citizens in support of restraining state and federal government growth, and returning government to its constitutional limits. For more information, visit www.americansforprosperity.org