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Predatory lending hurts Arizona’s veterans
Veterans, military service members, and their families suffer serious harm when predatory lenders target them with unscrupulously high interest rates. Currently, Arizona law allows predatory lenders to charge rates of over 200% APR. We believe this needs to change.
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.
McCune Davis pushes for curbs on title lending industry
Rep. Debbie McCune Davis, D-Phoenix, said the triple-digit interest rates that are charged to consumers are as abusive as those which were charged by now-defunct firms that gave short-term loans based on a promise to repay.
Brewer signs lending bill opposed by AARP and other groups
Despite objections from the AARP and a coalition that once defeated the payday lending industry, lending firms can soon collect the maximum interest fee on slightly bigger loans.
