Arizona payday loan bill stalls

Republican Rep. Andy Tobin of Paulden pulled his bill from a committee hearing agenda Monday but vowed to look for more support and bring it back.  On June 30th payday lenders, in Arizona, will lose their exception from the 36% usury cap.

Today, there are over 600 payday lending locations in Arizona.  That would be a lot of empty real estate space, not to mention the jobs.

You can read the full article in Business Week.

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