Payday Loan Businesses Look to Extend Arizona Law
By Danielle MasonPayday Loan Writer
Mesa, AZ — Arizona payday loan companies are seeking to extend a 1999 payday loan law that will allow payday lenders to continue to operate in Arizona. The lenders have agreed to make changes in their practices if the state extends the law.
The changes would include payday loan lenders requiring customers to sign a document stating they have no other cash loans with other payday lenders.
Though the lenders certainly have enough time since the law does not expire until 2010.
February 27th, 2006 at 2:32 pm
[…] The council’s recommended change is based upon others implemented in Pima County recently. Last year South Tucson became the first local jurisdiction in Pima County to pass payday loan restrictions. Phoenix has mounted a similar effort. While the many Arizona payday loan companies will continue operating in the state through at least 2010, minor restrictions imposed by local governments are becoming par for the course. « Advance America to Close Payday Loan Offices […]