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An amendment in the state Senate backed a plan that would allow businesses in Arizona to charge up to 136 percent interest to repay loans.

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164% interest? Senate advance payday loan bill
Republicans back plan after voters limited industry in 2008

A new proposal allowing payday lenders barred from Arizona following a 2008 voter initiative offering a new high-interest loan product emerged in the Senate Tuesday and set off an hourslong discussion in the Appropriations Committee before it was approved with only Republican support.

By BOB CHRISTIE, Associated Press March 22, 2017