OH House-18: Fundraiser for Patten with Gov. Ted Strickland

The Arizona Credit Union System (ACUS) is pushing to abolish the payday advance industry in the Grand Canyon State, but consumers should realize the ACUS is just trying to eliminate the competition. The credit union is stepping up its lobbying efforts to level the payday loan industry so that it can claim all the former cash advance customers as their own. As part of a massive e-mail campaign, the ACUS is attempting to reach almost 1.6 million credit union customers to convince them that Proposition 200 is worth voting against. However, Proposition 200 supports institutions like the Arizona Community Financial Services Association which points out that Proposition 200 will in fact lower Arizona’s loan fees, eliminate extensions by implementing flexible payment plans, keep Internet lending in check, and lower the number of walk-in stores in Arizona. These up-and-coming reforms will not only benefit payday loan customers, they will also prevent industry employees from joining the unemployment line. Who can afford to lose their job while the economy is struggling like it is?

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