Payday loan providers are straight straight straight back with “flex loans” in Arizona

Payday loan providers are straight straight straight back with “flex loans” in Arizona

A brand new variety of high-interest loan has entered the financing scene in Arizona. After pay day loans with yearly interest levels a lot more than 36 % became unlawful in Arizona this year, previous payday loan providers had getting innovative. Their solution? “Flex loans,” designed to use loopholes to obtain around rate of interest caps.