Consumers and Small Business Owners Beware of Fake Lender Loans!

Arizona law limits interest rates to protect its residents from predatory lending. By way of example, the maximum annual percentage rate (APR) including fees is 41% for a $2,000, two-year installment loan. In 2008, 60% of Arizona voters rejected a payday lender ballot initiative that would have overturned the state’s interest rate maxima. To get around the interest rate cap, high-cost online lenders have evaded Read More

A Brief Introduction to the ACFA

Consumers and Businesses are protected by various laws at different levels of government. The Arizona Consumer Fraud Act (ACFA) is a law that protects consumers and businesses at the state level. Let’s take a look at the Act to find out how it works. What is the Arizona Consumer Fraud Act? Enacted in 1967, the Arizona Consumer Fraud Act governs transactions. The Act is designed to uncover “unlawful practices” in Read More