In today’s Arizona Republic:

Two years ago, Arizona voters registered opposition to payday lending by a 3-2 ratio, rejecting an industry whose financial products are tantamount to economic servitude.

They refused to extend payday lending’s exemption from state interest-rate limits. It was a people’s victory, supported and fought on moral high ground. It was a victory supported by several members of the Valley’s clergy, who spoke to the immorality of 400 percent interest rates.

The payday industry and its supporters are now demonstrating a disregard and disrespect for the will of the people.

House Bill 2161, supported by state Rep. Andy Tobin, would lift the sunset provision for payday lending. It would subjugate the people’s will to that of an industry that preys on those in our community who toil at modest wages or live on fixed income. It is an industry that exploits temporary financial needs to make hundreds of millions of dollars in fees.

I appeal to every honest, decent and fair-minded Arizonan to lend your voice and influence to deny passage of HB 2161.

If this state’s families believe in efforts to preserve family wealth, let us unite in defeating this ill-advised legislation.

- Henry L. Barnwell
Glendale

The writer is pastor emeritus of First New Life Baptist Church in Phoenix.

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