Seven years after Arizonans voted to get rid of lending that is payday a number of the exact same players are right straight right back, looking for brand new state authorization to provide just one more type of high-interest loans.
In writing, the“flex that is new” live within existing state guidelines that cap interest at a yearly portion price of 36 %.
But would-be loan providers like to impose whatever they call various “customary charges” for sets from keeping the username and passwords, validating client information, processing transactions and supplying regular payment statements.