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Arizona Gov sees no problem with allies working in favor of payday loans
November 30th, 2009

Arizona Gov. Jan Brewer said she was fine with political associates of hers working to keep payday lenders in the stateArizona Governor Jan Brewer said on Monday that she saw was fine with some of her political associates” decisions to lobby on behalf of the payday loan industry as legislation is being considered to save the industry from being all but exiled from the state.

According to the Associated Press, Brewer said she didn”t "see a problem with it" when asked what she thought about her associates stumping for payday lenders. She added that she was confident they "will do what’’s right for the people of Arizona."

The "associates" of Brewer who were being spoken of likely referred to Chuck Coughlin, who is the president of Arizona-based lobbying firm HighGround.

According to the AP, HighGround is one of many firms being hired by state payday lenders in an attempt to drum up support for extending a law created in 2000 and currently set to expire on June 30, 2010 that allows payday lenders to charge fees for "deferred presentment transactions" that exceed state regulations.

If the law is not extended, most payday lenders will be unable to turn a profit and could be forced to go out of business.

Former state Attorney General Grant Woods has also thrown his support behind working to keep payday loans in business around the state, telling the Yuma Sun he felt they had a place in the state for those who needed them.
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This entry was posted on Monday, November 30th, 2009 at 6:43 pm and is filed under Debt Management News and Tips. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.



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