ACTION ALERT: Be There Monday! Call Today!
On Monday, the House Banking and Insurance Committee will hear HB 2161: payday loans; regulation.
This is Rep. Andy Tobin’s bill that would overturn the will of the voters and authorize 400% interest payday loans forever.
If you agree that THE SUN MUST SET on 400%, we need you to act now!
The payday lenders are making the rounds, trying to woo your elected representatives into believing that the deceptive “reforms” they promise in this bill will eliminate the Payday Loan Debt Trap.
But make no mistake: IF THIS BILL PASSES, THE DEBT TRAP WILL CONTINUE!
When you put aside the smoke and mirror “reforms,” all this bill does is repeal the 2010 Sunset date — the date that Arizonans voted to uphold; the date that forces payday lenders to cap their loans at 36% APR like other lenders!
Now, these legislators need to hear from YOU.
Come to the hearing on Monday and
Contact the Committee Members TODAY!
Your message can be short and to the point:
- The voters have spoken! We said “NO” to 400% payday loans loud and clear.
~ - HB 2161, just like Prop. 200, hides payday loans’ 400% interest rates amidst a myriad of meaningless “reforms.”
~ - HB 2161 will result in thousands of Arizonans trapped in debt, year in and year out. It will continue to allow out-of-state companies to drain $150 million dollars from the state each year in fees stripped from trapped borrowers.
~ - Vote NO on HB 2161 and do as the voters demanded: LET THE SUN SET ON 400%!
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JOIN US MONDAY
AT THE STATE CAPITOL:
HOUSE BANKING AND INSURANCE COMMITTEE
MONDAY, JANUARY 25th
2:00 p.m. Hearing
House Hearing Room # 5
Arrive by 1:15 p.m. to ensure you get a seat!
State Capitol
House of Representatives
1700 W Washington Street
Phoenix AZ 85007
2:00 p.m. — Committee Meeting begins, BUT COME EARLY!
The payday lenders will try to pack the house with their “satisfied customers” and employees, who likely will be paid to attend. We need to out-number them in a BIG way.
Think you can make it?
Let Kelly know – kelly@economicintegrity.org
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Call and Email the Banking and Insurance
Committee Members TODAY:
Nancy McLain (Chairman), Republican — District 3
(602) 926-5051 nmclain@azleg.gov
Doug Quelland (Vice-Chairman), Republican — District 10
(602) 926-3024 dquelland@azleg.gov
We have not contacted Rep. Quelland on this matter, but last session, he voted NO on the “payday light” bill in committee, helping kill that bill. Please email and call to ask that he continue to stand shoulder-to-shoulder with consumers against predatory lenders.
Carl Seel, Republican — District 6
(602) 926-3018 cseel@azleg.gov
Cecil P. Ash, Republican — District 18
(602) 926-3160 cash@azleg.gov
Cloves C. Campbell, Jr., Democrat — District 16
(602) 926-3042 clcampbell@azleg.gov
**URGE HIM TO VOTE NO! HE IS ON THE FENCE.**
Robert Meza, Democrat – District 14
(602) 926-3425 rmeza@azleg.gov
David Bradley, Democrat — District 28
(602) 926-3300 dbradley@azleg.gov
Andrew M. Tobin (bill’s sponsor), Republican — District 1
(602) 926-5172 atobin@azleg.gov
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To see the Prop 200 results in each of these legislator’s districts, click here. In every district, their constituents said “NO” to 400%!
See you Monday!
Thank you,
KELLY DAVID
Kelly Griffith David Higuera
Arizonans for Responsible Lending
PS:
To read the proposed legislative language, monitor co-sponsors and track the bill, bookmark the following link: HB2161
For Committee updates between now and Monday, keep your eye on their website:
House Committee on Banking and Insurance
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Paid for by Arizonans for Responsible Lending
Major Funding by AARP Arizona
Center for Responsible Lending, N.C., SEIU, Washington, and SIMG, Tucson.
Additional Support from Arizona State Credit Union, UFCW Local 99
The Arizona Credit Union League, and Mi Familia Vota.