Payday Loan Businesses Look to Extend Arizona Law

Historical archive, first published 2005 — payday-lending laws and rates have changed since. Preserved for the record.

Mesa, AZ — Arizona payday loan companies are seeking to extend a 1999 payday loan law that will allow payday lenders to continue to operate in Arizona. The lenders have agreed to make changes in their practices if the state extends the law.

The changes would include payday loan lenders requiring customers to sign a document stating they have no other cash loans with other payday lenders.

Though the lenders certainly have enough time since the law does not expire until 2010.