NoMoreLoanSharks.com/media
Goddard to Aggressively Enforce Payday Loan Ban
with ‘Operation Sunset’
Press Conference in central Phoenix 6/9/2010
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CBS Evening News with Katie Couric Highlights the Battle to Finally End
400% Payday Loans in Arizona and
The Personal Devastation they Cause
CBS Evening News, April 18, 2010
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Sen. McCune Davis debates former Attorney General Grant Woods on Horizon:
House Bill 2161: “Payday Loan Reform”
PBS Eight/KAET-TV, Horizon 1/20/2010
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Gov. Jan Brewer Attempts to Explain Why She’s Not Beholden to The Payday Lenders, Even Though Her Chief Campaign Advisers Are…
Is Brewer willing to go against the will of 1,271,717 voters?! As governor, she should LEAD on this issue, not pander to out-of-state special interests looking to continue 400% lending in AZ.
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Grant Woods: “I’m confident the Governor will sign it.”
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Bi-Partisan Support for Upholding the 2010 SUNSET –
To Finally END 400%-Interest Payday Loans:
Sen. Majority Leader Chuck Gray
Announces Opposition to HB2161 (Jan. 14, 2010)
“The people recognized, just as the Legislature did, that [payday lending] was not something they wanted either.”
– Sen. Majority Leader Chuck Gray (R) – Dist. 19, Mesa 1/14/2010
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Channel 3 News, Phoenix: September 16, 2008
[NOTE: Link no longer operative.]
“This is not reform. It is one or two cosmetic features… It’s like asking, ‘Do you want your leg broken in two places or four?’”
- Attorney General Terry Goddard, on supposed “reforms” offered by payday lenders
CBS EVENING NEWS 2008:
Predatory payday lending costs American families $4.2 billion annually ($149 million annually in Arizona) in fees stripped from trapped borrowers.
Bates ended up in a two year cycle with a variety of payday lenders, “costing this single mother of two more than $1,500 in interest, to essentially float a $200 loan.“
“An endless cycle. A dead end. I would advise anybody NOT to [take out a payday loan].”
“They’re set there for people, like me, who are living payday to payday… and then once you get in there, you can’t get out.”
– Mary Bates, trapped payday loan customer
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“Horizon” KAET Ch. 8 — September 24, 2008
“I’m voting NO. The payday loan industry needs to be held to the 36% interest cap just like any other lender here in Arizona.”
- Tamara Sisk, former payday loan customer, Mesa
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Former Payday Lending Employees Speak Out:
Many brave former employees across the country have spoken out against this predatory industry. Here are a few:
“We train our sales staff to keep customers dependent. We train them to make sure they keep ‘em borrowing — whether in the form of a renewal or a back-to-back transaction – forever, if possible.
WE VIRTUALLY GUARANTEE CUSTOMER DEPENDENCE ON OUR PRODUCTS.”
- Michael Donovan, former District Director of Operations for
national chain Check ‘n Go
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Arizonans for Responsible Lending — October 2008 “SHOW THE PEOPLE” Rally
“If they pass Prop 200, there is no question that they will have special treatment for the end of time. 391% interest rates will then be voter-protected and will last forever in the State of Arizona.”
- Arizona Attorney General Terry Goddard
“It’s giving them a license to steal.”
- Representative John B. Nelson (R), Dist. 12 – Glendale
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KPHO in Phoenix: Some See Prop 200 Ads as Misleading:
Oct 27, 2008
The payday loan industry uses its negative reputation to mislead voters in its ‘Yes on 200′ ads. Another example of payday lenders being completely dishonest.
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Payday lenders’ motives questioned on Prop 200:
Oct 23, 2008 – 12 News, Phoenix
“Opponents say the massive spending by the payday lending businesses is proof that the November ballot initiative doesn’t offer real reform.”
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“Payday Loan: Contentious ballot initiative” by Arizona Public Media
“I almost lost my home. At one point I was calling my family… and telling them that if I didn’t see them again, that I loved them.”
– Diane Robles, former payday loan customer, Tucson
© 2007, 2008 Arizona Public Media™
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KVOA News 4: Breaking Down Proposition 200: October 15, 2008
[NOTE: Link no longer operative.]
“The average customer has to pay back nearly $800 on a $300 payday loan, because of all the renewals.”
- David Higuera, Arizonans for Responsible Lending, on how payday loans are structured to trap borrowers in Cycle of Debt.
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Credit Unions Offer AFFORDABLE ALTERNATIVES to Payday Loans
NBC4 – D.C. Maryland Virginia
For information about participating Credit Unions in Arizona, visit:
www.azcreditunions.org and National Credit Union Foundation: Real Solutions
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BEWARE! Loan Shark Devours Innocent Arizona Consumers
Don’t let it happen to you! VOTE NO on 200!
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Lenny the Loanshark explains Prop 200:
“We feel that, if we look like we’re being responsible, you might think it’s actually true!” - Lenny the Loanshark, on payday lenders’ supposed “reforms” in Prop 200
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PAYCHECKED! A short documentary film by ASU Professor Chris LaMont:
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Social Justice Education Project – Tucson: No on 200!
