400% Interest is NOT Reform: Vote No on Arizona Proposition 200
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Goddard to Aggressively Enforce Payday Loan Ban with ‘Operation Sunset

Press Conference in central Phoenix 6/9/2010

The Loan Sharks Tried to Buy Your Vote

400% Interest is NOT Reform: Vote No on Arizona Proposition 200


Supporter Tools

FAQ: Arizona Post-Payday Loans: What Consumers Need to Know (3-page PDF, Fmr. Attorney General Terry Goddard)

U.S. Senators say: Predatory Lending Harms Military Families (1-page PDF)

Military Lending Act fact sheet (3-page PDF)

PHANTOM DEMAND:

REPORT: Short-term due date generates need for repeat payday loans, accounting for 76% of total volumeJuly 2009, Center for Responsible Lending

GET INVOLVED TODAY:

(Easy Handouts to Download and Use)

Flier: “The Sun Must SET on 400%” (1-page PDF)

Donation Form – Contribute Today! (1-page PDF)

FAQ: The Real Deal on Payday Loans (2-page PDF)

Comparing HB2161/2370 to Prop 200: No Difference (2-page PDF)

HB 2161/2370 is NOT Reform – Here’s why (3-page PDF)

They just tried it in New Mexico — It doesn’t work! (2-page PDF)

 

 

Why Prop 200 was No Reform At All — A look back at the smoke and mirror “reforms” offered then… (2-page PDF)

 



 

 

WHAT THE RESEARCH SAYS:

High-Cost Payday Lending Traps Arizona Borrowers (PDF)
Center for Responsible Lending — Sept 2008

Consumers Better Off Without Payday Lending (PDF)
University of North Carolina study: Consumer attitudes and experiences post-Payday Sunset – November 2007

Public favors 36% Cap by large margin
Center for Responsible Lending – March 2009

 

Predatory Profiling:
The Role of Race and Ethnicity in the Location of Payday Lenders

Center for Responsible Lending – March 2009

Payday Loans and the Economy:
36% Cap Promotes Financial Recovery
(PDF)
Center for Responsible Lending – January 2009

Predatory Financial Services Industry Contributes to State Politics (PDF)
National Institute on Money in State Politics – July 2008

Springing the Debt Trap: 36% Cap Springs the Trap
Center for Responsible Lending – December 2007

Financial Quicksand: Payday Lending Sinks Borrowers
Center for Responsible Lending – November 2006

 

Payday Lenders Target Arizona College Students (PDF)
U of A Norton School/Arizona PIRG – October 2008

Do Payday Loans Cause Bankruptcy? (PDF)
Vanderbilt Law School and University of Pennsylvania – October 2008


MORE INFO:

PaydayLoanInfo.org (Consumer Federation of America, info on Arizona)

Americans for Financial Reform

Credit Unions Replacing Boarded-Up Payday Lenders

 

 

 

 

Payday Lending: How the Debt Trap Catches Borrowers

 

UNITED AGAINST USURY:

Arizona Ecumenical Council Resolution

 

What Others Say

Gov. Brewer appears to have a major conflict of interest:

Blast from the Past: Payday Lenders ATTACK…. Themselves?

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AARP ARIZONA WEIGHS IN:

Tells Gov. Brewer to Uphold Payday Sunset, VETO Any Bill That Overturns the Will of the Voters

AARP letter to Brewer - Dec. 2009

AARP Letter to Gov. Brewer -- December 2009

Click image to enlarge.
Download letter here.

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2008 RADIO SPOT — No More Special Deals!
(A.G. Goddard weighs in on payday lending)

Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser.

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Copyright 2008 – David Fitzsimmons, Arizona Daily Star

Payday Loan Calculator
What does a Payday Loan Really Cost?
Your Interest Rate:
Red is the amount owed after 6 months using Payday loans; purple is the same loan amount and term with a 21% credit card.

The Cost to Arizona

Loanshark Billboard



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