06/17/2008 Meeting Minutes - Laserfiche WebLink

Home Browse Search

~~ .M.;~ Council Minutes of 6/17/2008 ~., of business people for the sake of a few who broke the law. As a result, consumers end up losing by all the extra legislation and bureaucracy that businesses have to comply with. Sarbanes-Oxley has done more harm to consumers than good. This resolution for truth and lending strikes him as a similar legislation. These organizations have commissions that do self-regulation. If you give 99% of business people the benefit of the doubt and believe that they're honest, he doesn't think we need government protecting us, which this legislation seems to be trying to do. Mayor O'Grady thanked Mr. Smith for his comments with regard to the American Cancer Society and the Relay for Life and for expending the information out to St. Richard's parish. This is a very important community activity for our government with the involvement of the Community Life Services Director and the city schools. It is important to note that the chairperson of the event is Melissa Meredith who is a member of the city Planning & Design Commission. He commended her for her participation. Council Member Dailey Jones commented regarding Resolution 2008-89, that Ohio Treasurer Richard Cordray had sent a letter to city councils throughout the State of Ohio asking them to weigh in on this resolution that is coming before the Federal Reserve Board and the Office of Thrift Supervision. She read from Resolution 2008-89: "That the proposed regulations would mean that consumers who are working hard to play by all the rules would not be penalized because of unfairly short timeframes to make payments, allocation of payments first to balances with the lowest interest rates, increased interest rates that are applied to existing past balances, charges for exceeding credit card limits because a hold was placed on an account, unfairly computing outstanding credit balances in various ways, unfair security deposits and fees for providing credit and deceptive offers of firm interest rates that change after the consumer signs up." She and fellow sponsor Councilman Barker felt North Olmsted and cities throughout the State of Ohio are in serious crisis and adding support behind this effort was very important. Councilman Barker noted that Councilman Orlowski had this evening asked to be a sponsor of Resolution 2008-89. At this point, Councilmen Kearney and Mahoney asked to be included as sponsors as well. 3) Don DeBrodt, 23141 Stoneybrook, thought the previous speaker had a valid point. Some time ago, he went through Council minutes and picked out a dozen resolutions urging some higher authority to do something or oppose something. (He listed numerous pieces of legislation and their purposes.) Certainly individual citizens, per the Constitution, have a right to petition the government. But, when these things are passed by Council, most of them introduced by the Mayor, he believes it is a waste of time and effort and gives a false impression that the citizens of North Olmsted have this position. Sending resolutions to the General Assembly is ineffective as he does not believe they pay any attention to it. He thinks Council, the Mayor, and the administration, could use the time more productively on local issues. Mayor O'Grady thanked Mr. DeBrodt for his comments. He does not promise to agree with them, but he will take them to heart. 7