PHOENIX – Community groups, including AARP Arizona and the Arizona Community Action Association, are urging state senators to reject a bill allowing increased interest rates and fees on small consumer loans.

House Bill 2526 would allow loans up to $3,000 to carry an interest rate of 36 percent, and would permit an origination fee of $150, more than double the current limit.

At the same time, State Rep. Debbie McCune-Davis says the bill provides no assurance that borrowers would actually be able to repay those loans.

"Without that assurance, the loans that are made are potentially predatory, and the consequence is that it puts people in a cycle of debt, which gives them no opportunity to improve their lives, their credit or their future," she maintains.

The bill reportedly is being pushed by a single hedge fund-owned loan company and already has passed the Arizona House. It is currently being considered by the Senate.

State Sen. Steve Farley says voters rejected an industry-backed ballot measure six years ago that would have allowed payday loans exceeding 400 percent annual interest.

"Arizonans have spoken at the ballot box, both in electing people who are against payday lending and other types of predatory loans, and in banning predatory lending at the ballot in the initiative process, and they've spoken overwhelmingly time and time again," he says.

Cynthia Zwick, director of the Arizona Community Action Association, says lenders already are collecting additional fees from vulnerable borrowers that push loan costs well above the legal limit for interest rates.

"The bill is not about providing more loan choice to vulnerable Arizonans,” she says. “These loans are currently available, but at a maximum amount of 24 percent interest.

This bill is about higher-interest loans and higher costs for low-income borrowers versus higher profits for the lenders."

Other groups opposing the bill include the Southwest Center for Economic Integrity, the Morris Institute for Justice and Citizens for a Better Arizona.





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As Oregon is seeing its first major heat event of the summer, some simple tips can help you keep your home cooler.

Most of Oregon was under a heat advisory over the holiday weekend.

And with summer just starting, Cameron Starr - senior operations customer experience manager with Energy Trust of Oregon - said more hot days are likely ahead.

He said one recommendation is to keep out heat by pulling down window shades during the hottest part of day, and open windows when temperatures cool down.

"During that time when it's cool outside," said Starr, "a box fan or window-mounted fan on the shady side of the house can really be effective in drawing in cool air."

Excessive heat can be dangerous.

Starr said cooling centers are open across the state for people struggling with the heat. He also noted that you can visit many local businesses with air conditioning to cool down.

Starr advised people to use heat-generating devices, such as ovens, less frequently during hot days.

He added that it's important to check the filters in your air conditioners, especially if they're window-mounted or portable units.

"You want to make sure you're checking those filters, and a lot of manufacturers state to check and clean those every two weeks," said Starr. "And if you've got pets, you probably want to increase that cycle."

For people with fans, Starr said check to ensure it's spinning in the direction that cools, allowing you to feel a breeze rather than pulling cool air upward.

And making sure there aren't any gaps in doors and windows is also important.

"Sealing off any gaps," said Starr, "can very much help reduce the amount of cool air that you're losing to the outside."

Energy Trust offers cash incentives for people to install systems that cool - or provide heat during the winter. There are also federal tax credits available for equipment like energy-efficient heat pumps.




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Two of the largest credit card companies in the United States want federal regulators to greenlight a merger and the deal has been met with skepticism from a consumer rights group.

Capital One and Discover Financial Services agreed in February to combine their services in a $35 billion deal.

Patrick Woodall, managing director of policy at Americans for Financial Reform -- which is composed of civil rights, labor and other civic organizations and promotes an equitable financial system for consumers -- noted the merger would pose a hardship for some.

"This disproportionately impacts Black and Latino families who are much more likely to have subprime credit scores, much more likely to struggle paying their credit card bill," Woodall pointed out. "It would give the company the power to extract value and money from these working families."

Corporate mergers often mean excess jobs will be cut. In 2021, Discover opened a customer care center in Chicagoland, but Woodall fears call center and marketing positions there are on the line. Should the merger receive approval, Capital One has vowed to retain all Discover workers for one year. Then, Capitol One's management can legally close all Discover operations.

The Bank Merger Review Modernization Act mandates federal regulators consider the effects of a proposed merger on the community it serves. According to the financial site Experian, Illinoisans hold an average yearly credit card balance of almost $7,000.

Woodall believes the merger will lead to increased credit card costs, which he said are "likely to gouge consumers."

"It's creating a bank so large and so weighted towards credit cards that in the event of sort of an economic downturn, this bank could be in trouble," Woodall contended. "That could cause systemic problems across the broader economy and banking system."

The Federal Reserve and the Office of the Comptroller of the Currency will hold an open meeting July 19 for community input. Woodall hopes federal regulators will "do the right thing" by standing up for the statutory requirements and blocking the merger.

Summer is in full swing and as temperatures increase across the state of Arizona, so do energy bills.

Diane Brown, executive director of the Arizona Public Interest Research Group Education Fund, said Arizonans can easily cut down on their electric bills, from steps as simple as turning off lights or electronics when they are not in use, to investing in a "smart" thermostat to provide better control of a home's temperature.

Brown added people should check with their utility company to ensure they are on the best rate plan, especially if there has been a change in the number of people living under one roof.

"Often your utility can help you cut down on your monthly bill through energy efficiency discounts and rebates," Brown explained. "Helping you to assess if you're on the best rate plan for your household."

For people struggling to pay their bill, she noted utilities offer financial assistance or can point you to a nonprofit to can help. An appliance taking in one watt of electrical current at all times is equivalent to nine kilowatt-hours per year. These so-called "energy vampires" cost the average household between $100 and $200 a year, according to the U.S. Department of Energy.

Brown pointed out cutting energy waste does not require a dramatic change in daily habits or comfort. Just closing curtains during the hottest part of the day can reduce the amount of heat entering a room by up to one-third. She added using ceiling fans to help offset air conditioning is another money-saver; and avoiding using your oven in the summer is another smart strategy.

"Using an air fryer, a slow cooker, microwave or a grill can help to reduce the amount of heat in a room," Brown emphasized. "Which will help to reduce the amount of air conditioning that is being employed, thereby saving money."

Brown acknowledged utility companies often propose raising households' monthly rates and fees. She added if you are behind on an electric bill or anticipate having a hard time paying it, contact the company or the statewide nonprofit Wildfire, to learn more about the Home Energy Assistance Fund.