University Lutheran ChurchLutheran Campus Ministry


at Arizona State University - 340 E. 15th Street, Tempe, AZ 85281-6612 (480) 967-3543 (map)
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HB 2611 - Payroll Loans

HB 2611, vote NO. This bill would weaken the Arizona Consumer Loan Act, which already permits 36% interest on loans of up to $3,000 plus a one-time loan origination fee of 5% up to $150.  This bill seeks additional "customary fees" far in excess of existing rates, resulting in thousands of dollars owed over the original loan amount.  (See Arizona Community Action Association issue paper.)

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