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January 30, 2010

H2161 locks in 391% interest for payday lenders

By Barry Aarons, in the Arizona Capitol Times:
As Robert Merry notes in his book “A Country of Vast Designs,” President Andrew Jackson wrote in an 1832 veto letter, “In the full enjoyment of … the fruits of superior industry, economy, and virtue, every man is equally entitled to protection by law; but when the laws [...]

January 28, 2010

Payday loan legislation concerns city council

In today’s Glendale Star:
As the sunset date for Arizona’s 10-year Payday Loan legislation draws near on July 1, 2010, city council has asked their intergovernmental affairs staff to keep a close watch on any legislation that may extend the licensing deadline.
In November 2008, Proposition 200 was rejected by voters in all 15 Arizona counties with [...]

January 27, 2010

Bishop Henry L. Barnwell: Payday-loan push defies voters’ will

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 [...]

January 27, 2010

Payday-loan opponents are silenced

Column by Laurie Roberts, Arizona Republic:
They came from across the state to have their say. Actual citizens. They took time off from jobs and time out from other activities and interests and they got to the state Capitol early, to make sure they would have a chance to tell our leaders just what they think.
That [...]

January 26, 2010

Legislators: Say ‘NO’ to payday lenders

My Turn, in today’s Arizona Republic:
by Jodi Liggett
In 2008, Arizona voters said “No!” to payday lenders – loud and clear – rejecting the industry-sponsored Proposition 200. Apparently, the lenders are hard of hearing because they are back at it again.
Despite spending over $14 million attempting to push their “reforms,” Proposition 200 was defeated by overwhelming [...]

January 26, 2010

Round 1: The Voters

Friends,
Yesterday we scored an important victory in our battle to make sure the sun finally sets on 400% Payday Loans. We made it clear to our representatives on the Banking and Insurance Committee that The People have spoken. And they listened. But this victory, while important, was just Round 1.
Rep. Andy Tobin, the sponsor of [...]

January 26, 2010

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