Payday loan companies face vote.

Payday loan companies have nearly 650 stores and employ 2,500 employees within Arizona. After the November elections, that could all change.
Under the current law, payday loan companies can charge $17.65 for every $100 borrowed. The most an individual can borrow is $500, which can lead to a maximum charge for borrowed funds of $88.25. Should Proposition 200 fail, it will effectively cause the closure of nearly all payday loans locations by July 2010, when the current law expires.
Barnes said bad credit loans are an important option for younger audiences simply because they can resort to them. Should that option terminate, the demand will remain and force people to explore other, and possibly more dangerous, types of loans, Barnes said.
Barnes countered by saying the payday lending industry has thousands of Arizona loans customers not because people are too ill-informed to make their own decisions, but because they're making a rational decision.
Arizona voters will decide the fate of Proposition 200 in the November elections.

For more information about Payday Advace Loans Proposition 200 in the November elections, please see on arizona.edu