Category Archives: Holiday Payday Loan

Title Lenders Changed Cash Advance Shops, Trap Arizonans with debt

Title Lenders Changed Cash Advance Shops, Trap Arizonans with debt

Strong guidelines from Consumer Financial Protection Bureau needed seriously to stop your debt trap while Arizona Legislature should respect Prop 200 mandate and repeal name loan law

Phoenix, AZ —Today the buyer Federation of America (CFA) additionally the Southwest Center for Economic Integrity (CEI) released a new report entitled “Wrong Method: Wrecked by Debt/Auto Title Lending in Arizona.” The report examines the exponential development of name loan providers since Arizona’s legislation authorizing payday advances expired this year and papers the risk that is high borrowers who secure loans aided by the name with their automobiles, including repossession, deficiency balances, balloon payment financial obligation and collection expenses. Continue reading

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