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Arizona Allows Predatory Lending
28 Jun 2011
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Description

In 2000 the Arizona State Legislature created an exception to state laws that limited interest for small loans to 36 percent and made it legal for payday lenders to operate in the state and charge fees that are the equivalent to annual interest rates (APR) of nearly 400 percent. This exception to state law was set to expire in 2010.

 

Tags
payday-loans predatory-lending
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