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Media Headlines

Hate predatory loans? Then tell Congress to keep its mitts off this agency
Linda Valdez, The Republic | May 26, 2017
If you like consumer protection, you should hate Congress's assault on the Consumer Financial Protection Bureau.


Online Lenders Attempted to Collect 440% to 950% APR Loans that Were Illegal in Arizona, April 28, 2017

Sens. McCain, Flake Urged to Reject Measure to Block Fraud and Fee Protections on Pre-paid Debit Cards
Obscure, fast-track law would stop Consumer Financial Protection Bureau card rule February 6, 2017

Arizona Advocates Tell Consumer Financial Watchdog: Go Back and Get Payday/Title Loan Rule Right September, 27 2016

AZ Dept. Financial Institutions Regulatory & Consumert Alert
Unlicensed Consumer Lending Transactions June 9, 2016

A Lame Response to Predatory Loans

National Payday Rule Could Save Arizona Consumers Millions
But Advocates Say Rule Still Needs Work, Strengthening

Letter: Still safe, for now, from predatory lendingVerde Independent, 5/19/2016

May 12, 2016

Salvation Army Opposes Payday Flex Loan Bill
Letter to AZ Legislature, April 29, 2016

Does 204 percent inetrest rate help in a pinch?The Republic | March 17, 2016

Small businesses could be the victim with new high percentage flex loan law
Phoenix Business Journal, March 3 2016

Roberts: Payday Loan Sharks Circling the Capitol (again)AZ Republic Laurie Roberts February 29, 2016

Arizona Lawmaker Wants Curbs on Title LoansAZ Daily Star January, 26 2016

Title Lenders Replaced Payday Loan Stores,
Trap Arizonans in Debt

January 26, 2016

CFPB Takes Action Against Online Lender for Deceiving Borrowers
November 18, 2015

Barney Frank's response to Rep Sinema's Letter to the Editor on weakening the CFPB
October 20, 2015

There is no justifiable reason to change the nation’s consumer protection bureau
October 1, 2015

FTC Returns Money to Online Payday Loan Applicants; Scammers Debited Their Bank Accounts Without Their Consent
September 18, 2015

New Payday Loan Survey - Most Americans Want Reform
PEW August 25, 2015

Department of Defense moves to protect servicemembers and their families from payday lenders and other abusive creditors
July 22, 2015

Flex loans trap most vulnerable, keep them poor
Cynthia Zwick & Kelly Griffith, The Republic
March 18th 2015

NEW POLL: Strong Bipartisan Support for Reining in Abusive Payday Lenders
Voters Offer Overwhelming Backing for New Rules, Protections
February 19th 2015

Is dark money bringing payday loans 2.0 to Arizona?
Laurie Roberts, The Republic | 5:20 p.m. MST February 18, 2015

Payday lenders ask Arizona Legislature to allow new loan product
BY ASSOCIATED PRESS, | February 17, 2015 @ 7:04 pm

Payday loan operators push for 'flex loans'
Paul Giblin, The Republic | 9:03 p.m. MST February 17, 2015

Arizona lawmakers consider payday loan alternative
Feb 18, 2015 By Howard Fischer Capitol Media Services

CRL Report: Trends in Subprime Auto Lending Similar to Pre-Meltdown Mortgage Market
Jan 13, 2015

Holiday spending may rise, but most shoppers will watch the budget - Cronkite News
Nov 25, 2014

CFPB Takes First Action Against ‘Buy-Here, Pay-Here’ Auto Dealer.
Arizona-based DriveTime Automotive Group, Inc. and its finance company, DT Acceptance Corporation, make up the largest buy-here, pay-here car dealer in the nation.
Nov 19, 2014

Department of Defense issues new rules on Military Lending Act
Date: Sept 26, 2014
A link to Federal Register Notice is available here : Notice
A link to press announcement is available here: Press

Arizona Department of Financial Institutions:
DATE: May 24, 2013
TO: Entities Licensed Under the Motor Vehicle Time Sales Disclosure Act that Conduct
Secondary Motor Vehicle Finance Transactions (Auto Title Lenders)

DATE: February 7, 2013
TO: Consumers; Financial Institutions and Enterprises
Conducting Business in Arizona
RE: Unlicensed Consumer Lending Transactions
Note that pursuant to A.R.S. § 6-613(B), any consumer lender loan that is made by a person who is required to be licensed pursuant to this chapter but who is not licensed is void.
This means that the unlicensed person making consumer lender loans has no right to collect, receive or retain any principal, finance charges or other fees in connection with that consumer lender loan.

Low-wage workers picket outside federal buildings: Washington Post Published May 23, 2013

Car Title Loans Cost Consumers 3.6 Billion Annually Center for Responsible Lending

  • Approximately 7,730 car title lenders operate in 21 states costing borrowers $3.6 billion in interest on $1.6 billion in loans.
  • The average car-title borrower renews a loan eight times, paying $2,142 in interest for $951 of credit.
  • A typical borrower receives cash equal to only 26 percent of a car’s value, yet pays 300% APR.

Published: February 28, 2013

Arizona Daily Star, Guest Column
Arizona must do more to keep predatory car-title lending in check
Published: April 29, 2013

Net Economic Impact of Payday Loans Insight Center for Community Economic Development
Published: March 2013

4 Ways the Payday Loan Industry Sucks Billions From Local Economies (Hard Times USA)

PI EXCLUSIVE: Uncovering the 'astroturf' firm behind the CFPB attack ads
By Isaac Arnsdorf 05/19/16 02:07 PM EDT

It’s time to stop the grand theft auto of title loan companies
By Ona Porter and Steve Fischmann | December 23, 2015

Lawmakers protect title loan firms while borrowers pay sky-high interest rates
How millions in campaign contributions help block laws to crack down on lending abuses

Monday December 8th, 2015

New Mexico State Representative Patricia Roybal Caballero and
The Center for Economic Integrity
Call for Strong Action against Payday Lending Abuses

Thursday July 17, 2015

The New Normal: Short-term loans become second-nature to the struggling poor
New Mexico In Depth
Monday July 7, 2015

CFPB Takes Action Against Wells Fargo and JPMorgan Chase for Illegal Mortgage Kickbacks
JAN 22 2015

Feds Prepare to Clamp Down on Payday Lending
By Amy Roe Equal Voice News
January 13, 2015

36% cap on interest makes sense for NM
By Nathalie Martin / Albuquerque Resident
Sunday, January 4, 2015 at 12:02 am

Rise in Loans Linked to Cars Is Hurting Poor - NY Times

Tuscon Sentinel: What military families need to know about high-cost lenders
October 9th 2014

New rules will close the loopholes in the Military Lending Act.

October 8th 2014

In a Victory for Consumers, Regions Bank, Wells Fargo and US Bank End Bank Payday Lending
January 17th 2014

Building Financial Strength in Rural Communities
Project Funded! January 2013
Executive Summary Report

The battle against high-cost lending to military families
by Mitchell Hartman

Congresswoman Duckworth Leads Effort to Protect Service Members from High-Cost Loans
Aug 1, 2013 Press Release

NPR America Public Media Marketplace Report
Beyond Payday Loans,
Installment Lending
Explore the entire news series:

The Color of Elsewhere: Identity and Wealth in Rural America

Wonga is Watching You: How payday lenders follow your online trail May 28th 2013

U.S. Lenders Evading Rules Change Payday Loans to Installments May 29th 2013

Banks Can Develop a Better, Cheaper Payday Loan MARIA ASPAN, American Banker
JUN 7, 2013

Bank Halts Overdraft Fees on Prepaid Debit Cards press release...

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