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GOP lawmaker targets high-interest lenders
A Mesa GOP lawmaker is proposing what he concedes is a very un-Republican thing. Sen. David Farnsworth has introduced two bills to cap the interest rate that can be charged...
Tag: flex loans
Nobody wants flex loans except out-of-state lenders
Representative J.D. Mesnard is wrong. Arizonans do not want payday lenders’ “flex loans.” In an opinion piece this week, Mesnard defended his bill to allow 204% debt trap loans in...
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Lenders offer charity help in return for high interest rates
In a last-minute bid for votes, the consumer lending industry is offering to give some undetermined share of its profits to charities in exchange for being given the legal right...
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In ‘flex loan’ battle, influential lobbyists clash with consumer protection groups
One of the biggest behind-the-scenes battles at the Legislature this year is the fight over “flex loans” – high interest loans for those with bad credit and few other options...
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House passes bill creating new payday lender loans
The Arizona House of Representatives narrowly approved a proposal Monday allowing payday lenders barred from operating following a 2008 voter initiative to offer a new high-interest loan product. The 31-26...
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Mesnard’s ‘flex loan’ bill pulled from committee ahead of vote
State senators are balking at a House-backed bill to allow lenders to charge triple-digit interest rates to Arizonans, signaling the industry-backed measure could be doomed to failure. Rep. J.D. Mesnard,...
