Payday Loan Reform could be on November ballot.

A measure to change the way payday loan companies do business could be on the November ballot. The Payday Loan Reform Act is designed to help Arizona consumers by reducing the cost of payday loans.

Stan Barnes, a spokesman for the Payday Loan Reform Act, said reforms are needed and will be supported by voters.
"This act will benefit Arizona consumers by reducing the expense of a payday loan, ending costly loan extensions and creating a free repayment plan for those consumers who cannot meet their obligations," Barnes said. "It is substantive reform that preserves this simple, convenience and less costly financial option for those consumers who wish to choose it."

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