Arizona deadline tomorrow
June 30, 2010 | Arizona, industry | Comments (0)The AP sums it up:
Payday lenders charging triple-digit interest rates will no longer be allowed to operate in Arizona after a 10-year-old law expires Thursday.
Lending companies failed to persuade voters or the Legislature to extend the provision allowing the high rates.
—————————————————–
Starting July 1, loans with annual interest rates exceeding 36 percent will be illegal in Arizona. Fifteen other states and the District of Columbia already use rate caps to limit payday loans, according to the Consumer Federation of America, a nonprofit consumer advocacy group in Washington, D.C.
Comments»
No comments yet.