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Arizona House adopts bill to OK new loans for payday lenders
The Arizona House passed a bill Wednesday that allows payday lenders to offer a new product with more than 200 percent interest, despite voters barring them from operating in the state under a 2008 initiative.
Payday lenders seek to bring back another high-interest loan
Seven years after Arizonans voted to end payday lending, some of the same players are back, seeking new state permission to offer yet another form of high-interest loans.
Payday lenders face extinction following Senate vote
A Senate committee dealt the payday loan industry what might be a fatal blow, rejecting a bill to save the short-term lenders and finishing the job voters started in 2008.
H2161 locks in 391% interest for payday lenders
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 undertake to add to these natural and just advantages artificial distinctions ... and exclusive privileges, to make the rich ric[...]
