Tuesday, September 23rd, 2008...4:07 pm
Anti-Payday Loan Campaign Makes Washington Post
The payday loan industry’s ballot campaigns here and in Ohio have caught the notice of the Washington Post, who had an article about them this morning. Quoted in the article is local political consultant, new father and most importantly, frequent reader of this blog David Higuera.
I remember that voters turned back several “grassroots” initiatives funded by the insurance industry in the 80’s and 90’s, so I know I can count on the wisdom of the electorate to see past the slick campaign. That said, I got the fourth mailer from the payday loan folks yesterday (which tells me where the $150 million they have extracted from our state, much from our poorer communities, is going.) I’m glad to see that a well organized effort is going up against these guys, they are doing the Lord’s work.
6 Comments
September 23rd, 2008 at 4:48 pm
Frequent reader indeed! Thanks for helping us spread the word. For all those interested in helping end predatory payday loans in Arizona, go to:
http://www.200isNoReform.com right now and make a $25 donation.
DH
September 23rd, 2008 at 7:55 pm
I’ve heard that there are twice as many payday loan places in AZ as Starbucks and McDonalds combined. This is certainly true of the intersection of 19 Ave. and Northern, near where my boyfriend lives. 5 payday loan joints, one Starbucks, one McDonalds.
September 23rd, 2008 at 8:14 pm
It used to be that you found these legal loansharks on streetcorners in poorer neighborhoods on the southwest side of town. Now, with the economy in the crapper you are seeing them in just about every part of town…
Perhaps the government should approach the bailouts with the same interest rate terms payday lenders use…
September 23rd, 2008 at 9:05 pm
Yeah but, azw88, who will be paying that interest? Somehow I don’t think it would be bank CEOs and fund managers.
September 23rd, 2008 at 9:30 pm
I still run in to people who hate payday lending, but who think this is a true reform. The pro-200 money has done a good job of confusing voters.
We are up against almost $12 million, put up by the loan sharks.
Please, everybody. Spread the word. There is simply no other way to keep them from writing their own law and putting in to statute permanently.
Speak to everybody you know and tell them not to be fooled by the liar flyers.
September 24th, 2008 at 1:33 am
Shows you how poor our school systems are that people still can’t recognize 400% interest when they see it–especially when it is all dolled up with sad eyes.