Respect the Voters’ Will and Let the Sun Set on Payday Lending

In November’s election, Arizona voters beat back the payday lenders’ Proposition 200 in every county in the state and won a resounding and definitive 60-40 victory!

Working together, our statewide coalition of over 200 organizations, elected officials from both political parties, faith communities, neighborhood leaders, the business community, consumer advocates, credit unions and extraordinary individuals from all walks of life, fought back against $15 million in industry propaganda and resoundingly rejected the payday lenders’ initiative attempt to repeal the 2010 sunset for 400% interest rates.

Our new website, www.NoMoreLoanSharks.com, recaps this historic effort, including a breakdown of voting results by legislative district.

Thank you again for all that you did.  We could not have done it without you!

But believe it or not, the fight is not over.  We need you now – again!

In the next two years, the predatory industry will pull out all the stops to try to circumvent the voters’ will and protect their multi-billion dollar lending scheme in Arizona.  We expect a heavy lobbying push on both sides of the aisle by an industry dead set on removing the 2010 sunset date in Arizona law and continuing their predatory 400% interest rates.

We need your continued support. We must ensure that the interest rate cap of 36 percent applies to all lenders again, as scheduled, on July 1, 2010.  We must see this through until the 36 percent cap is back in effect!

To move this fight forward, visit our new website www.nomoreloansharks.com with updates and tools to help you contact your legislators and make sure they heed the will of the voters.  And make a donation of $25, $100, or whatever you can give, today.

On the site, you’ll find information about the City of Mesa standing up to Russell Pearce when he threatened to introduce legislation that would repeal the 2010 sunset.  You’ll see what’s happening in other states where this battle is also being waged today.  You’ll see plenty of ways to get involved again!

We must continue to make it known that Arizona will not tolerate any more special deals for loan sharks!

Thank you again for all that you do,

Kelly Griffith
Outreach Director
Arizonans for Responsible Lending
(520) 250-4416
www.NoMoreLoanSharks.com