Consumer Lenders - DFI

Consumer Lenders

This license is required of any person that advertises to make or procure, solicits, or holds themselves out as willing to make or procure or makes or procures a loan of $10,000 or less or a revolving loan of not more than $10,000. 

Who is exempt from this License?  Please review A.R.S. §6- 602.

Inquiries concerning the preparation and filing of License and renewal applications with the Department should be directed to the Licensing Division at 602-771-2800 or e-mail at [email protected].  For more detailed contact information, see the “Contact Us” tab.

Forms and Fees

Application Fees and Forms for Consumer Lenders
Arizona Revised Statues §6-126 et seq.

The following nonrefundable fees are payable to AZDFI with the filing of the following applications:

Description	Fees	Forms
New Application  Each original application shall be accompanied by a nonrefundable fee of one thousand five hundred dollars.	$1,500.00	Portal Registration/Application Instructions DFI Application Requirements DFI License Application   Biographical Statement Background Check Personal Financial Statement (Sole Proprietor Only) Company Financial Statement
Branch Office Application Each branch application shall be accompanied by a nonrefundable fee of five hundred dollars.	$500.00	Portal Branch Application Instructions DFI Branch License Application
License Renewal Renewal fee is one thousand dollars plus two hundred dollars for each branch License Year:  July 1 through June 30 Renewal Package Due: May 15 through June 30: Without penalty	$1,000.00 HO $200.00 each branch	DFI Renewal Application Requirements DFI License Renewal Application   Biographical Statement Background Check
Address Change	$50.00	Portal  Service Request Instructions DFI Service Request
Name Change To change the licensee name on a financial institution or enterprise license, two hundred fifty dollars.	$250.00	Portal  Service Request Instructions DFI Service Request Requirements DFI Service Request
Change of Control/Ownership change (“COC”)	$0.00	Portal  Service Request Instructions DFI Service Request Requirements DFI Service Request   Biographical Statement Background Check
Officer Change	$0.00	Portal  Service Request Instructions DFI Service Request
Duplicate License To issue a duplicate or replace a lost enterprise's license, one hundred dollars	$100.00	Portal  Service Request Instructions DFI Service Request
License Surrender	$0.00	Portal  Service Request Instructions DFI Service Request

Required Reports

Description		Forms
Consumer Lender Standard Rate of Charge Report (A.R.S. §6-609)		Portal  Service Request Instructions DFI Service Request Consumer Lender Standard Rate of Charge Report Form
Consumer Lender Annual Report (A.R.S. §6-608)		Portal  Service Request Instructions DFI Service Request Consumer Lender Annual Report

 

Laws, Rules & Substantive Policy Statements & Regulatory Alerts

 

Arizona Revised Statutes

Article 1      General Provisions

6-601             Definitions

6-602            Exemptions

6-603            License; contents of application; fees; nontransferable

6-604            Issuance of license; license year; requirements

6-605            Denial of renewal; suspension; revocation

6-606            Business limited to licensed locations; restrictions

6-607            Books; accounts; records; access

6-608            Annual report of licensee; civil penalty for failure to

6-609            Reporting rates; change in rates; quarterly report of s

6-610            Effect of revocation, suspension or surrender on preexi

6-611            Prohibited acts

6-612           Rules

6-613           Restrictions; voidable loans

6-614            Noncompliance

6-615            Foreign loans; reciprocity

  

Article 2    Requirements for Consumer Lender Loans

6-631            Disclosures; penalty

6-632            Finance charges

6-633            Computation of finance charges

6-634            Precomputation of consumer loan

6-635            Other allowable fees; annual reporting

6-636            Insurance securing loan; cancellation; notice

6-637           Term; payments

6-638           Other insurance

6-639           Loans from theft or fraud; consumer not responsible; cor

 

Chapter 5   CONSUMER LENDERS

Arizona Administrative Code Title 20

ARTICLE 5. SMALL LOANS

Section
R20-4-503. Adjustments in Precomputed Charges
R20-4-508. Cut-off Date for Computing Refunds upon Early Repayment in Full
R20-4-518. Deferral Fee
R20-4-519. Deferment Statement
R20-4-524. Books, Accounts, and Records
R20-4-533. Reserved
R20-4-534. Insurance
R20-4-535. Reserved

Substantive Policy Statements 
ARTICLE 6. CONSUMER LENDERS
SALE OF INSURANCE CL-1
DUAL LICENSES CL-2 
ARTICLE 1. GENERAL ADMINISTRATION
APPLICATIONS GE-1 
CREDIT REPORTS/ARREST RECORDS  GE-3

 
Regulatory Alerts 

Regulatory and Consumer Alert CL/CO-16-01

Examinations 

It is the policy of AZDFI to select the most effective and efficient methods of conducting examinations so that significant risks affecting safety and soundness, as well as substantive statutory compliance, can be identified and, if necessary, appropriate supervisory action taken.  Judgment must be utilized to ensure that necessary procedures are performed and ineffective activities are avoided.

The examination fee in accordance with A.R.S. §6-125 is not more than sixty-five dollars per hour for each examiner.  The assessment late penalty is fifty dollars for each day after the thirty day period the enterprise fails to remit the assessment not to exceed the examination assessment amount.

Pursuant to A.R.S. 6-122(3) examination frequency is at the Superintendent’s discretion.

For questions concerning examination of your company or license, please contact the Financial Enterprise Division at 602-771-2800 or e-mail to [email protected].