The time, effort and money required to upkeep a home that normally would have been put in by the homeowner shifts to the bank when occupants desert their house. Lenders have to pay to clean up their sometimes-trashed properties to get them ready to sell. These properties, which will sell at a drastically lower price than when they were new, are putting a great strain on those institutions’ profitability, which affects their ability to make new loans.Read More »
I suspected Gov. Jan Brewer would veto SB1593 and applaud her for doing so.
This bill was yet another example of a misguided Legislature embracing a feel-good piece of legislation that was promoted by health insurance reform advocates, such as Dr. Eric Novack.
A state law nearly doubling the amount of loan originators and brokers who must be licensed and monitored by the state has increased the workload of a staff already struggling to keep up with approving new mortgage-originator licenses, regulating existing businesses and protecting consumers.Read More »
Lauren Kingry was looking for a way to make some money while attending Friends University in Wichita, Kan., where he took a job working as a mail boy in a family-owned bank. He had no idea it would be the beginning of a four-decade career in banking, leading to a position overseeing the Arizona Department of Financial Institutions, the regulating agency for 3,800 businesses across the state.Read More »
A state representative is being sued in small claims court for failing to repay a payday loan.Read More »
Some payday lenders in Arizona have already shut their doors and more are expected to follow when a law authorizing their high-interest loans expires at the end of the month.Read More »
Two associates of former Arizona Rep. Rick Renzi are set for trial this week in a case tied to allegations that the congressman looted his family insurance business to fund his campaigns and for personal expenses.Read More »
Arizona Attorney General Terry Goddard is warning payday loan stores not to try to keep operating as usual after a law authorizing high-interest loans expires at the end of the month.Read More »
Arizona's budget troubles could force the state to delay paying some bills as early as September, state Treasurer Dean Martin said Wednesday, in a situation complicated by his effort to win the Republican gubernatorial nomination over Gov. Jan Brewer.Read More »
It is unfortunate that Arizona lawmakers keep striking down efforts to preserve short-term credit options for consumers of the state.Read More »