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Arizonans for Responsible Lending
State Leaders Speak Out Against Dishonest Ballot Campaign, Say 'Vote No' On Prop 200
November 9th, 2008
Don't let loan sharks write Arizona laws, say opponents of Prop 200. A groundswell of opposition against the ballot measure from citizens, advocacy groups and public officials, including the Governor and the state Attorney General, suggests that the payday lending industry may be losing a battle to keep its predatory practices legal in Arizona. The payday lending industry has spent over $12 million to write, collect signatures, and market Prop 200. A citizens ballot would bypass the state legislative system, where many policymakers have withdrawn their support for allowing payday lenders to charge 400 percent interest rates, far above the 36 percent...
Source: Pharma Investments, Ventures & Law Weekly (2008-11-09)
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