Some Payday-Loan Foes Drop Initiative Support
An initiative drive to put the payday-loan industry out of business in Arizona may falter because of a split among supporters. Members of an organization dubbed Stop Payday Predators announced Friday that they no longer are backing the initiative. State Sen. Debbie McCune Davis, D-Phoenix, who is chairing that group, said she believes the money being raised to put that measure on the November ballot would be better spent killing an industry-backed initiative that would make payday-loan stores a permanent presence in Arizona.