Arizona Consumer Protections: Arizona banned payday lending in 2010, providing strong consumer-protection context against high-cost short-term loans. Consumer loans are capped at 36% APR under state law. Residents can file complaints with the Department of Insurance and Financial Institutions or the Attorney General's Consumer Protection Division.
Interest Rate Cap: Arizona usury cap: 36% APR cap on consumer loans; payday lending banned since 2010.
Payday lending is banned in this state.
Key Regulations: - Payday lending has been banned since July 2010 when the enabling statute expired.
- Consumer lenders must be licensed under the Consumer Lenders Act with a 36% APR cap.
- Title loans are legal but regulated with licensing requirements.
- The Arizona Consumer Fraud Act provides broad consumer-protection context against deceptive lending.
Federal protections: The FCRA gives you the right to dispute inaccurate credit report information for free. Credit repair companies cannot charge before performing services (Credit Repair Organizations Act).
Free resources: Get a free credit report annually at AnnualCreditReport.com.
File complaints with Arizona Attorney General Consumer Protection Division.
