The 1.5% Kickback
Friends,
The voters of Arizona have spoken. The Sun must Set on 400%.
We cannot allow the out-of-state payday lenders and their army of lobbyists to undermine the will of the people. That’s exactly what HB2370, which will be heard Tuesday, would do.
This bill is just HB2161 with a bribe on top.
In an arrogant and cynical move, the payday lenders believe that if they just throw some money at the community (“The 1.5% Kickback”), it should justify the $150 million a year they strip from trapped borrowers across Arizona.
At the end of the day, HB2370 still allows 400% interest loans to continue in Arizona indefinitely.
It still perpetuates a faulty loan product designed to trap the borrower every time. It still gives protected status to payday lenders at the expense of all other financial service providers, undermining the free market.
It still means the average borrower will have to pay back over $800 on a $350 loan.
The voters already said “NO!”
The payday lenders have spent a lot of money trying to influence the Senate Appropriations Committee. It is up to us — all of us — to make sure that the voters prevail over the out-of-state special interests. It’s as simple as that.
If you have not done so already, please contact the Committee Members today and tell them to vote NO on HB2370. If you live in their district, make sure you let them know that.
You can leave them a voice mail, send a brief email, or both.
SENATE APPROPRIATIONS COMMITTEE:
- Sen. Rebecca Rios, District 23 – Pinal County
Assistant Democratic Leader
(602) 926-5685 rrios@azleg.gov
- Sen. Amanda Aguirre, District 24 – Yuma
(602) 926-4139 aaguirre@azleg.gov
- Sen. Sylvia Allen, District 5 – Snowflake
(602) 926-5219 sallen@azleg.gov
- Sen. David Braswell, District 6 – Phoenix, Glendale, Cave Creek
Newly appointed senator; replaced Pamela Gorman
(602) 926-5284 dbraswell@azleg.gov
- Sen. Ron Gould, District 3 – Lake Havasu City
(602) 926-4138 rgould@azleg.gov
- Sen. Jack Harper, District 4 – Surprise
(602) 926-4178 jharper@azleg.gov
- Sen. Al Melvin, District 26 – Tucson
(602) 926-4326 amelvin@azleg.gov
- Sen. Paula Aboud, District 28 - Tucson
(602) 926-5262 paboud@azleg.gov
- Sen. Russell Pearce, District 18 – Mesa
COMMITTEE CHAIRMAN
(602) 926-5760 rpearce@azleg.gov
Please forward this email to friends and family. Make sure everyone knows about Tuesday’s 1:30 pm Hearing in Senate Appropriations.
For tools you can download and share, check out the “Supporter Tools” box here.
For More Information, call:
David Higuera
(520) 907-2080
Kelly Griffith
(520) 250-4416
Thank you,
Arizonans for Responsible Lending
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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 Arizona
The Arizona Credit Union League, The Center for Economic Integrity
and Mi Familia Vota