The Ohio Democratic Party is committed to protecting the rights of consumers and holding businesses accountable, forcing them to adhere to the principles of fairness, equity, and honesty.
GOP RECORD
Home Foreclosures Threaten Ohio’s Economy
- Highest Home Foreclosure Rate in Nation. According to the Mortgage Bankers Association, Ohio had the highest rate of foreclosures in the country over the last two years. The state’s percentage of loans in the process of foreclosure was at 3.3%, approximately three times the national average. The foreclosure rate on subprime loans in Ohio is two to three times higher than the foreclosure rate on prime loans. [Cleveland Plain Dealer, 1/20/08]
Predatory Lending Threatens Working Families
- Number of Payday Lenders Grows By More Than 1400 Percent. Between 1996 and 2006, Ohio saw an explosion in the number of payday lending locations across the state. In 1996, there were just 107 locations; by 2006, there were 1,562 locations, growing by a multiple of fourteen. Ohio has more payday lending locations than McDonalds, Burger King, and Wendy’s restaurants combined and are in 86 of Ohio’s 88 counties. [Policy Matters Ohio, http://www.policymattersohio.org/TestimonyOnPaydayLending2007_12.htm, 2007]
- Borrowers Trapped in Cycle of Debt. According to the Center for Responsible Lending, only one percent of payday loans go to borrowers who repay within two weeks and borrow less than once a year. 99 percent are repeat borrowers, falling into a cycle of debt. [Policy Matters Ohio, http://www.policymattersohio.org/TestimonyOnPaydayLending2007_12.htm, 2007]
Republicans Sided with Lending Industry, Not Ohio Consumers
- Not one mortgage enforcement action was initiated by the Attorney General’s office in the past ten years. [Cleveland Jewish News, 11/2/07]
- Petro Supported Predatory Lending Industry. In 2001 and 2002, the cities of Dayton, Cleveland, and Toledo passed ordinances imposing restrictions on predatory lenders and requiring better disclosure of loan costs. American Financial Services Association, a lending industry group based in Washington, D.C., filed lawsuits against each of the cities claiming the local ordinances were vaguely written and conflicted with state law. Jim Petro intervened on behalf of the predatory lender and urged the courts to uphold the state law which pre-empts the ability of local governments to regulate predatory lending. [Columbus Dispatch, 9/21/05; http://www.allbusiness.com/legal/litigation/214786-1.html, 9/1/04]
Failed to Protect the Privacy of Ohioans
- Blackwell Sued For Disclosing Social Security Numbers. Former Secretary of State Ken Blackwell’s office was sued by a truck driver whose Social Security number appeared on the Secretary of State’s website. Blackwell agreed to remove the sensitive information from approximately 1.2 million corporate documents posted on the website with records dating back to 1968. More than five months after the suit was settled, some Social Security numbers remained on documents posted online. [AP, 7/2/07; Toledo Blade, 9/15/06; The Frontrunner, 3/14/06]
- Blackwell Leaked Five Million Voters’ Social Security Numbers. Former Secretary of State Ken Blackwell’s office released voter lists containing the Social Security numbers of more than five million Ohioans. Blackwell refused to notify those whose information was leaked, claiming there was no problem since he asked all of the recipients, including the Democratic National Committee, to return the data. [AP, 6/30/06; US Fed News, 6/6/06]
WHAT WE'VE ACCOMPLISHED
SECRETARY OF STATE JENNIFER BRUNNER
Protecting the Privacy of Ohioans
- Protecting Personal Information from Public Access. The Secretary of State’s office removed all personal information, such as Social Security numbers, from online united commercial code filings made available to the public. Millions of records have been amended so that they can be made public online without risk to leaking personal information or data. When Brunner took office in January 2007, she hired a new vendor to finish removing Social Security numbers from online business filings, a process former Secretary of State Kenneth Blackwell started in early 2006 but remained unfinished. 3SG Corporation of Dublin was contracted to ensure 100 percent of online documents were inspected and redacted.
TREASURER RICHARD CORDRAY
Helping Troubled Homeowners Get Back on Track
- Established Task Force to Assist Troubled Homeowners. Treasurer Cordray worked with local leaders in nearly 40 counties to establish the Save Our Home Task Forces to help leverage resources for families in danger of losing their homes. The task forces are comprised of business leaders, lenders, realtors, and social service agencies. This statewide initiative is based upon a model built during Cordray’s tenure as Franklin County Treasurer. The Franklin County Save Our Homes Task Force finds and identifies community resources for troubled homeowners and conducts training seminars.
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