Arizonans use payday lending services each and every day to meet up unexpected costs and emergencies that are financial.

Arizonans use payday lending services each and every day to meet up unexpected costs and emergencies that are financial.

Text regarding the effort

The description that is 100-word with all the Arizona Secretary of State’s workplace because of this initiated state statute reads:

The payday financing industry is defined become eradicated as well as the Arizona Legislature will not enact reforms to profit borrowers while preserving this essential option that is financial. This measure provides dramatic pro-consumer reform to payday lending and protect customer option. It offers a significant price cut, removes rolling-over principal to extend financing, produces a payment plan free of charge to clients that can not satisfy their responsibilities, and inhibits a debtor’s power to get one or more loan at the same time. 3 4

Read more