Payday loans in Arizona: not allowed since 2010

What happened in 2010

• The law allowing payday loans in Arizona expired on June 30, 2010, and DIFI no longer licenses payday lenders (Arizona DIFI ↗).
• From July 1, 2010, any consumer lender, including former payday lenders, must be licensed as a consumer lender (Arizona DFI ↗).
• Payday loans then fell under Arizona’s 36% consumer interest rate cap (Arizona Law Review ↗).

Online offers

The Department has warned about online payday loans from unlicensed companies, some in other states or claiming to be owned by Indian tribes, charging Arizona consumers rates well above what Arizona law permits; it says these companies are not in compliance with Arizona law (Arizona DFI ↗).

Check or report a lender

Look up a consumer lender’s license with DIFI and file a complaint through its website (Arizona DFI ↗).

Options in Arizona

• A payday alternative loan from a federal credit union (APR capped at 28%).
• A cash advance app — compare costs with our fee calculator.
• Asking the company you owe for more time or a payment plan.
• If you already owe a payday loan: extended payment plans and getting out of payday debt.

Questions

Are payday loans legal in Arizona?

No. The payday loan law expired on June 30, 2010, and DIFI no longer licenses payday lenders.

What about title loans in Arizona?

They are a separate product with their own rules. Read car title loans and check the lender’s license.

What rate can a licensed lender charge?

Consumer loans are subject to Arizona’s 36% consumer rate cap; ask any lender for its APR and license.