Arizona SB1689 amends consumer lender loan regulations, including finance charges, loan terms, and insurance provisions.
Arizona SB1689 amends various sections of the Arizona Revised Statutes related to consumer lender loans. It sets specific finance charge limits on consumer loans and revolving loans, with different rates based on the loan amount. The bill also defines permissible loan terms, prohibiting balloon payments and prepayment penalties except under certain conditions. Additionally, it outlines the types of insurance that can be sold in connection with consumer loans, such as property insurance and credit life insurance, and specifies conditions for their sale.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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