“The Bible tells us not to charge usury when you loan money to people. Essentially these people are taking advantage of people.” - Sen. Ron Gould, a Republican from Lake Havasu City, explaining why he voted against a bill that would’ve allowed the payday loan industry to stay in business.
“Payday lending opponents say the industry preys on poor people in desperate situations. They say the industry depends on trapping some borrowers in a cycle of debt where they continually renew their loan because they can’t afford to pay it off while still covering their expenses.” BusinessWeek
Payday loan lobbyists made thousands in campaign contributions to Sen. Jack Harper, and then, suddenly, Harper sponsored their strike-everything bill to House Bill 2035.
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