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Apr 8, 2010 Payday lenders in Arizona several years ago were granted a temporary exemption from the state's 36 percent cap on annual interest rates. The exemption expires June 30, and the industry says the interest cap is so restrictive that it will have to shut down that would have kept the industry alive 

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Nov 7, 2008 Ohio and Arizona voters saw through the deception of the payday lending industry at the ballot box Tuesday and voted to reject payday lending in their states, as the trade group used dirty tricks and misleading advertising to try to keep predatory 391 percent annual interest rates legal for payday loans.