Tell Arizona Lawmakers
Don’t let the payday lenders sneak back into Arizona!
HB 2146 is a Trojan Horse bill that opens the doors for predatory payday lending
HB 2146 threatens to undermine Arizonans who voted to stop debt trap loans with triple-digit interest rates. HB 2146 undermines the voters’ will by allowing lenders to side-step the very limits on the costs of loans currently in place in Arizona. This is exactly the type of opening that the payday lenders would love to see in order to again prey on Arizona consumers.
HB 2146 threatens consumers by
HB 2146 poses a serious threat to consumers
We must protect our existing laws, and not let lenders – especially payday lenders - be given a free pass to ignore Arizona’s laws.
We need to make sure these strong consumer protections remain in place to keep Arizonans out of the debt trap.
Tell Arizona Lawmakers
Online lenders must be held accountable to state law
HB 2146 passed by 4 votes to 3 in the Senate Judiciary Committee on Thursday, March 21
The Arizona House of Representatives has approved HB 2146 (Contracts; Licensure Requirements; Waiver; Applicability). This bill would allow two parties in a contract to waive any state, city, town, or county licensure requirement, provided that a service is offered electronically and for less than $6,000.
Though some industries have been excluded from using this waiver, very few protections have been included for people using online lenders or money transmitters.
A YES vote on HB 2146 is a
** Take Action Today **
Sign Up for the Request to Speak System (WildfireAZ)
Call and Email the Senate Judiciary Committee
Senator Eddie Farnsworth (Committee Chair)
Senator Rick Gray (Committee Vice-Chair)
(602) 926-5413, firstname.lastname@example.org
Senator Sonny Borrelli
(602) 926-5051, email@example.com
Senator Lupe Contreras
(602) 926-5284, firstname.lastname@example.org
Senator Andrea Dalessandro
(602) 926-5342, email@example.com
Senator Vince Leach
(602) 926-5106, firstname.lastname@example.org
Senator Martin Quezada
(602) 926-5911, email@example.com
Dear Senator (Name),
I am writing to express my opposition to HB2146. This bill would create a dangerous environment for Arizona consumers by allowing parties in a contract to waive any state, city, town, or county licensure requirement.
This law is overly broad and includes few protections for consumers, as the required disclosures could be buried in the fine print of a contract agreement. This bill would allow online lenders to easily circumvent state interest rate caps by adding unreasonable fees and fines and would allow money transmitters to operate with no oversight and no safety or soundness requirements.
Innovation should not come at the expense of consumer safety. Please vote NO on House Bill 2146.
Sample Phone Script:
Hello, my name is (your name here).
I'm calling to express my opposition to House Bill 2146. This bill is overly broad and would create a dangerous environment for consumers.