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Camps gear up to put title loans on the ballot
More than a decade after Arizona voters rejected an attempt by the payday lending industry to make permanent a law allowing high-interest loans, city streets are still littered with garish signs promising fast cash with no credit checks required.
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.
Stop triple-digit interest rates for good
Back in 2008, Arizonans voted 2:1 to stop payday lending in our state. Ever since the payday lender’s defeat at the ballot box, the industry has heavily lobbied to reinstate triple-digit interest rates.
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.”
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.
There is no financial freedom or justice with payday loans
There is no financial freedom or justice with payday loans. Instead these financial bottom feeders prey upon people with the fewest financial resources.
All Americans deserve access to short-term credit
At one time or another, we’ve all had to pinch pennies to make ends meet. But for some households – too many of them minority households – access to credit when times are particularly tight can mean the difference between putting food on their table and watching their family go hungry.
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 [...]
Arizona House adopts bill to OK new loans for payday lenders
The Arizona House passed a bill Wednesday that allows payday lenders to offer a new product with more than 200 percent interest, despite voters barring them from operating in the state under a 2008 initiative.
