Barring any last minute switch by Arizona lawmakers, the state's payday lenders will be closed effective June 30.
"It's never over until the legislature adjourns, but many people are now saying the firms will be out of the lending business and converting their outlets to pawn shops, check cashers, auto title and whatever else they can come up with," said Austin DeBey, vice president of governmental affairs for the Arizona Credit Union League.
The league, joined by the North Carolina-based Center for Responsible Lending, AARP, consumer groups and others, saw the payday proponents' final attempt go down to defeat Wednesday after a state Senate panel declined to revive a bill overturning a 2008 voter referendum rejecting payday firms.
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