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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 by title lenders at 36 percent. That compares with rates that run as high as 17 percent – a month.
Nobody wants flex loans except out-of-state lenders
Representative J.D. Mesnard is wrong. Arizonans do not want payday lenders’ “flex loans.”
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 to make loans with monthly interest rates up to 15 percent.
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 in an emergency.
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.
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.
More lending options needed for Arizona families
For many families in Arizona, the “Great Recession” is far from over. Continued bureaucratic meddling and poor policy decisions by our elected leaders have made it difficult for many hardworking taxpayers to make ends meet. For some families the situation is so dire that one unforeseen financial hardship (car trouble, leaky roof, etc.) could prove catastrophic, especially if the family lacks [...]
