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Lending industry persuades Senate panel to advance bill permitting high-interest loans
Nearly a decade after Arizona voters outlawed “payday loans,” the lending industry is trying to get its foot back in the door with a new type of high-interest consumer loan.
Proposed limits on payday loans draw sharp reactions from both sides
Federal officials unveiled new restrictions on payday lenders Thursday that aim to help low-income borrowers avoid the “debt traps” of readily available, high-interest loans that critics say prey on minority communities.
Nobody wants flex loans except out-of-state lenders
Representative J.D. Mesnard is wrong. Arizonans do not want payday lenders’ “flex loans.”
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.
