Love Britney

Main Menu

  • Home
  • American singer
  • American songwriter
  • Music video
  • Music hits
  • Music industry

Love Britney

Header Banner

Love Britney

  • Home
  • American singer
  • American songwriter
  • Music video
  • Music hits
  • Music industry
Music industry
Home›Music industry›New campaign of initiatives would ban high-interest securities lending in Arizona | Local News

New campaign of initiatives would ban high-interest securities lending in Arizona | Local News

By Elisabeth J. Bruner
March 9, 2021
0
0

“If you don’t have enough income to meet your basic cash flow needs, whatever they are … what are your chances of being able to repay that loan?” ” she asked.

“It pushes people into bankruptcy, into checking accounts closed, into addictions,” Griffith said. “The consequences are therefore enormous. “

Goodman, however, said eliminating Arizona title lenders would not solve the problem. He said that would only push people to the internet and offshore lenders, who have no physical presence in Arizona and whose practices are not overseen by state regulators.

But Griffith said she thinks there are other solutions. She said some customers likely have access to credit cards, which they can use to bill for things like car repairs and tires in order to get to work to keep earning money. Interest rates on credit cards are lower than those of a securities lender, she said.

And for those who don’t have such options, Griffith said there are charities that may be able to help.

Goodman said the 204% figure may be misleading.

This number is based on the fact that the industry is allowed to charge 17% interest per month for loans of $ 500 or less.

But he said the law has tiered limits: 15% for those between $ 501 and $ 2,500, 13% for those between $ 2,501 and $ 5,000 and 10% for higher loans. Competition among lenders has resulted in bid rates lower than that, he said.

Related posts:

  1. Embarrassing questions about debt
  2. Six Ways to Make Sure You Keep a Good Credit Score
  3. Can banks offer an alternative to payday loans? Local lenders aim to attract the ‘underbanked’ | Economic news
  4. Martin Lewis calls for crackdown on buy-now, late-pay businesses that “target under 30s”

CATEGORIES

  • American singer
  • American songwriter
  • Music hits
  • Music industry
  • Music video

RECENT POSTS

  • BLOODBATH Drop Punishing New Single “Carved” Feat. Luc Lemay from GORGUTS; Streaming music videos
  • Marcus Mumford’s New Music Is About His Childhood Sexual Abuse Experience
  • The Story Behind Prince’s ‘Purple Rain’ Album Cover
  • Little River Band concert serves as fundraiser for flood victims | New
  • SOB Kam releases new single and music video “Woods”

ARCHIVES

  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • March 2021
  • Privacy Policy
  • Terms and Conditions