Uh, excuse me…
October 29, 2008 | Arizona, industry, media coverage, regulation, states | Comments (0)This story out of Arizona encouraging a NO vote on Prop 200 misses the point:
Prop. 200: No
Incorrectly called the “Payday Loan Reform Act,” this initiative pushed by the industry would make the law it operates under permanent instead of expiring in 2010. The industry provides a service, but it is overused. The Legislature should be responsible for regulating payday loans.
The reason there is a Proposition is that the legislature punted on this. It had all year to act.
