Capitol insiders agree: 400% payday loans must end
FOR IMMEDIATE RELEASE
February 10, 2010
Contact: David Higuera
A.R.L. Political Director (520) 907-2080
Arizona Capitol Times Poll — 7 out of 10 Capitol Insiders Agree with the Voters:
400% Payday Loans Must End
PHOENIX — “Payday lenders — should they stay, or should they go?” Despite the voters’ overwhelming rejection of payday loans, this question has been circulating around the Capitol for months now. And now it is a poll being asked at AZCapitolTimes.com.
The mandate remains clear: They should go.
“On November 4, 2008, a statewide poll was taken to determine the answer to this very question,” commented Debbie McCune Davis, co-chair of Arizonans for Responsible Lending.
The result? 1,271,717 Arizonans said: THEY MUST GO.
“Sixty percent of Arizona voters rejected the payday lenders’ arguments that they should be allowed to stay,” said McCune Davis. “Under normal circumstances, the election would have decided it, but of course, the payday industry doesn’t play by the same rules as the rest of us.”
Commented ARL Co-Chair Marian McClure, “Rather than respect the voters’ wishes, the payday lenders continue to hire Arizona lobbyists left and right and fly in their hired guns from out of state every week. They’re trying to convince the Legislature to ignore the will of the people — in fact, to undermine it.”
Among the horde of high dollar lobbyists hired by the payday lenders are former attorney general Grant Woods, Gov. Brewer’s consulting firm HighGround, former Napolitano aide Mario E Diaz, former labor leader Mike Vespoli, the conservative blogger “Espresso Pundit” and other insiders.
The result of this very expensive industry push?
According to the Capitol Times’ online poll, more than 70% of Capitol insiders think payday lenders “should not be allowed in Arizona.”
“It is interesting that after two years of being bombarded with every imaginable argument about why they should be allowed to stay, voters and Capitol insiders remain steadfast in their conclusion — it is time to end 400% interest payday loans,” stated ARL political director David Higuera.
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For more information about Arizonans for Responsible Lending, a statewide coalition of more than 200 organizations and community leaders working to uphold the July 1, 2010 payday loan sunset, click here.
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.