Former Arizona Attorney General Grant Woods and HighGround execs Doug Cole and Chuck Coughlin are lobbying on behalf of Payday loans, an industry many consider to be unscrupulous predatory lenders due to excessive interest rates. All three men are advisors to Gov. Jan Brewer. To the surprise of many Capitol watchers, Woods’ name appeared as campaign manager on Brewer’s 2010 campaign filing documents earlier this month.
Last year, by a vote of 59.5% to 40.5% voters overwhelmingly rejected the industry-crafted initiative — Proposition 200 — to repeal the law putting the lenders out of business after June 30. The industry poured more than $14.7 million into the campaign while opponents had less than $1 million. Woods, Cole and Coughlin are trying to convince lawmakers to let the Payday lenders stay in business despite the public vote to the contrary.
Arizona’s usury laws cap interest on consumer loans at 36 percent a year. But industry lobbyists pushed through a special law in 2000 allowing them to charge fees that far exceed the cap for “deferred presentment transactions” of up to $500, writes Howard Fischer of Capitol Media Serices.
For example, someone who needs money writes a check for that amount plus the fee, which can be up to $17.85 per $100. The company agrees not to cash the check for up to two weeks. That amounts to annual interest of more than 450 percent. But when lawmakers enacted the law, they included a sunset clause: The law self-destructs July 1 unless renewed.
I am one of the majority who voted against this industry that takes advantage of people’s hardships by charging obscene interest rates. Why are Brewer’s confidants working to undo my vote? This doesn’t reflect well on her. If they are lobbyists, let them lobby to their heart’s content, but stay out of the governor’s inner circle.
Off topic, but what is Jan Brewer, who I’ve always considered a conservative, doing with Grant Woods? With him as her campaign manager,she loses trust. The guy is a slippery republican at best. He even threatened to reregister as a democrat some time ago. That would have been an easy good riddance!
Knee breakers and loan sharks are on par with 450 percenters. These usury practices should be outlawed. It’s a given Grant Woods and his High Ground buddies have never used such businesses, but they’ll lobby on their behalf? Yuck.
Grant woods isn’t Governor Brewer’s only pet snake. Jay Heiler, formerly of Redflex, the Orwellian, socialist watchdawg left untethered by our former governor & current head muslim lackey, janet napolitano, was head of Governor Brewer’s “transition” team. This guy’s as slippery as they come. The man’s a KNOWN liar. (it’s all about safety…) Now, she’s got Grant on her team?
Jan Brewer used to have my respect. BEFORE she took control of the Governor’s office, she had said that she was against photo enforcement. Then oddly enough, she flip-flopped, & signed Sen. John Nelson’s (R-LD-12, Glendale) further punative legislation, tacking points onto CDL holders who get flashed. Also in that legislation is…TOLL ROADS.(the $16.50 “clean elections” donation from each scam ticket isn’t enough) Points were NOT supposed to be part of photo enforcement. I believe that was SB1320, sections 70,71,& 96. Please see the link:
http://www.azleg.gov/FormatDocument.asp?inDoc=/legtext/49leg/1r/summary/s.1320nrip_as%20passed%20by%20the%20senate.doc.htm
So in my opinion, Gov. Brewer’s keeping some strange A$$0CIATE$…which makes me wonder if she’s ready to retire, instead of spending a pile of OUR money to get elected to an office she’s disrespected…sounds like 1 of our D.C. senators…she & Sen. Nelson need to re-read the Republican Platform, too. Evidently, a growing list.
I appreciate your quoting from the story I wrote about the renewed interest in payday loans by the industry. But please, when attributing the story, do it to “Capitol Media Services.” That is the name of the news wire I run. The Guardian is a client — as are various newspapers and radio stations around the state that also subscribe to Capitol Media Services.
Thank you.
Howard Fischer:
Our apologies. The error has been corrected, and you have our word this will not happen again. Mea culpas are definitely in order.
My mama always said “Show me your friends and I’ll show you your future.” Bye, Bye, Brewer!
WOW! Well Put, Erin!
I will be interesting to see how Republican Legislators, who found their name on Coughlin’s hit list last session, respond to his lobbying efforts.
Senator Gould’s comments are indicative of what is wrong with our legislature and our party. Senator Gould, it would embarrassing as a Republican, and a derelict of duty to vote for a bill based on a grudge you hold toward one lobbyist and not on the merits of the law.
Regarding the law, since when did we as Republicans ever support doing away with an industry that pays taxes, employs people, and provides credit in this economy! I hate looking at them, never have used them but realize their need.
There is a market for pay-day loan creeps. Let the people enjoy their liberty to borrow from whomever they want or can.
Who are you to decide where people can borrow? I expect petty theft to go up now that we’ve taken away one more legitimate source of legal borrowing. These borrowers will hit rock bottom faster without the pay-day loan alternative. Great! That puts them on the public dole. Thanks a lot.
Don’t try to legislate smart.
That said, the people have spoken. “We”…well, not “we” because my viewpoint lost but…the people voted to close pay-day loan centers. For the same reason I hate the Diamondbacks…we don’t need well connected little dictators overruling the votes of the people.
Jan Brewer’s code phrase for wink-and-a-nod border enforcement is “business friendly environment.” That’s why her campaign attracts the likes of Grant Woods of Woods Construction.
John McCain, Lisa James, Grant Woods and Jan Brewer are sailing the same boat for forfeited American jobs.
Sen. Gould, I would hope you would oppose Coughlin on the merits of his argument. The people already voted on Coughlin’s issue. Reason enough to dismiss the weasle. And this is coming from a voter who opposed prop. 200 but appreciates the popular vote more than the single issue of allowing pay-day loan borrowing.
Woods, Cole and Coughlin need to keep their slimy hands off of our vote. Plus they seem to be as entirely ignorant to this as their boss Brewer: we elected a conservative Republican platform honoring legislature in 2008. This legislature isn’t likely to overrule the voters or approve a tax increase.
Ginger, I respectfully disagree. The legislature has already usurped the voters on an illegal tax. Photo radar is absolutely nothing more than an illegal tax. And the Republican Governor who had said she was against it, flip-flopped, & signed more p.e. punative legislation on it into law.
A Republican Senator not only sponsored THAT bill, SB1320, he’s sponsoring more punative legislation.(Points for ALL p.e. tickets=increased insurance rates for all, as cities all over AZ shorten yellow light times for revenue generation) That would be Senator John Nelson of District 12.
Illegal fines that are actually taxes on the citizens, & donations to the “clean elections fund” @ $16.50 PER TICKET, aren’t part of the Republican Platform. Evidently Woods, Coughlin, & Brewer, aren’t the only slimey handed folks @ the copper dome…Sen. Nelson’s name apparently needs to be on that list as well!