How to make a home loan in Arizona
If you are looking to make home loans in Arizona, here’s a checklist you need to take into account.
If you live in a rural area, you might want to consider a loan from a bank or credit union rather than payday lenders.
Read moreA number of states in the US and Mexico have legislation on the books to limit the types of payday loans available to consumers.
The most restrictive states, such as New Mexico, New York and New Jersey, restrict the types and types of loans available, according to the National Consumer Law Center (NCLC).
The US House of Representatives has already passed a bill that would require payday lenders to offer a minimum of $1,000 to borrowers who apply.
But there are several states, including Arizona, that have laws that limit the number of payday loan applicants that a lender can accept.
The most recent of these laws is the state of Arizona’s law, which goes into effect on July 1.
Arizona’s legislation also allows the lender to reject borrowers who don’t meet certain criteria, such that the maximum number of loans a lender may offer may be capped at $250.
States in Arizona’s immediate vicinity are home to some of the state’s largest payday lenders, such a Bank of America and Wells Fargo.
Both of these banks have offices in Phoenix, and Wells operates one of the largest payday loan operations in the state, offering loans to consumers ranging from $400 to $1.5 million.
But the bank’s Phoenix branch has had a reputation for abuse.
It was recently revealed that employees of the Phoenix branch of Wells Fargo had been caught sending employees to the home of a customer to investigate a complaint, according a report from the Arizona Republic.
The report stated that Wells Fargo employees had sent the victim an email on multiple occasions telling her to “shut up” about her case, while her husband was also sent to investigate the matter.
Wells Fargo has since stepped down from its Phoenix branch.
In an email to Al Jazeera, the bank said it is committed to the safety and well-being of our customers and employees and is taking steps to address this issue.
It said it has launched an investigation to determine if any wrongdoing occurred.
“We have taken a number of steps in recent months to ensure our Phoenix branch was in compliance with our policies and procedures,” it said in a statement.
“All of our Phoenix branches are staffed by qualified, trained staff.
We have taken steps to ensure that our Phoenix employees are trained on the law and are prepared to support customers in every situation.”
The NCLC also noted that Arizona’s laws are not unique, and that the state is not alone in its efforts to limit payday lending.
According to the NCLC, California is the only state in the country that has a bill pending in the California Assembly that would limit the amount of loans that a borrower can get.
The law, introduced by Democratic Assemblywoman Sara Gelsinger, would require lenders to limit their offerings to $250, which the bill says “may not exceed the value of the borrower’s income for the previous two years”.
The NCLC notes that other states such as Illinois and Michigan have similar legislation on their books, but the NCLLC has been lobbying for more.
“Arizona and other states are doing what we hope will lead to other states following suit,” the group’s executive director, Jessica Lehrman, told Al Jazeera.
Follow Rachael Gertz on Twitter: @rachaelbeck”
The number one thing people need to do is to make sure they’re in compliance.”
Follow Rachael Gertz on Twitter: @rachaelbeck