Cash Advance Lender Dilemma To Injure Arizona Economy
January 8, 2010 – With the relatively high ratio of payday loan businesses compared to other states, Arizona has become one of the national benchmarks for the industry. In 2008, Arizonans overturned a ballot that would allow payday loan lenders to remain in business through the 2010 deadline, while also lowering loan fees and requiring repayment plans, with a voting percentage of 59.5 to 40.5. The results of proposition 200 have still not fully been realized as government officials continue to argue how short-term lenders affect different demographics.
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