a little help on AZ laws for payday loans

Date: Wed, 01/11/2012 - 11:44

Submitted by Rojas
on Wed, 01/11/2012 - 11:44

Posts: Credits: [Donate]

Total Replies: 4

I'm trying to look for the actuall law in AZ for payday loans and can't find it. I know i saw it before could someone please help me out and either let me know where to look or the link.

Thanks,

Our database the last time I checked is not up to date. Payday

Our database the last time I checked is not up to date. Payday loans are basically illegal if they charge more than 36% interest,......the laws changed about a year ago.

lrhall41

Submitted by SOAPLADY on Wed, 01/11/2012 - 12:18

( Posts: 17315 | Credits: )

Arizona Payday Loan Laws Legal Status: Prohibited Citation

Arizona Payday Loan Laws

Legal Status: Prohibited

Citation: Consumer Lenders Act applies. Ariz. Rev. Stat. 6-632

Small Loan Rate Cap: 36% per year plus 5% fee

Arizona Department of Financial Institutions
Financial Enterprises Division
2910 N. 44th Street
Suite 310
Phoenix AZ 85018
Phone: (800) 544-0708

lrhall41

Submitted by OhioGal1 on Wed, 01/11/2012 - 14:50

( Posts: 5253 | Credits: )

I actually need the law to insert it into an e-mail i'm sending

I actually need the law to insert it into an e-mail i'm sending to the payday loan people. Thanks everyone.

lrhall41

Submitted by Rojas on Wed, 01/11/2012 - 18:06

( Posts: | Credits: )

I gave you the citation. A simple Google search will bring up t

I gave you the citation. A simple Google search will bring up the language for you, which isn't even necessary for your letter.

[URL="http://www.azdfi.gov/news/AG_Letter_to_Payday_Lenders_060910.pdf"]Letter from the AZ Attorney General to Payday Lenders.[/URL]

A.R.S. ?? 6-632

A.R.S. 6-1263

lrhall41

Submitted by OhioGal1 on Thu, 01/12/2012 - 07:11

( Posts: 5253 | Credits: )