Consumer Lenders - DFI
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].  

License Renewal Information

You must renew your consumer lender license(s) by or before June 29. Any consumer lender license not renewed by June 29 will be suspended on June 30. Arizona law does not provide any exception (A.R.S § 6-603.E, 6-604.B).  

Company Renewal via eLicense: $1,000

Branch Renewal via Postal Mail/Check: $200 (per branch - see instructions below)  

Standard Rate of Charge Report and Annual Report should be uploaded via an eLicense Service Request.

Instructions:  

Open the LICENSE RENEWAL REPORT (click here) and carefully follow the instructions on page 1.  

If possible, use the Google Chrome web browser when renewing your license(s) on the eLicense portal (https://elicense.az.gov/ARDC_HomePage).  Other web browsers may cause problems.  

Processing Time: Please allow up to three weeks for your license renewal(s) to be processed.  Check your license record to make sure that licenses that you wish to continue have been renewed.

Sign up for the Department mailing lists to receive notification of bulletins, press releases and more. https://difi.az.gov/mailing-lists

https://www.facebook.com/ArizonaDIFI/

https://twitter.com/arizonadifi

https://www.linkedin.com/company/arizonadifi/

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:

Application Fees and Forms for Consumer Lenders
DESCRIPTION FEES FORMS
New Application 
 
$1,000.00 + License Fee (based upon submission date):

Jan, Feb, Mar: $500.00
April, May, June: $1,250.00*
July, Aug, Sept: $1,000.00
Oct, Nov, Dec: $750.00

Fees are nonrefundable.
*Fee includes the following year renewal fee.$1,000.00
Branch Office Application
 
$500.00 + License Fee (based upon submission date):

Jan, Feb, Mar: $100.00
April, May, June: $250.00*
July, Aug, Sept: $200.00
Oct, Nov, Dec: $150.00

Fees are nonrefundable.
*Fee includes the following year renewal fee.

License Renewal

License Year: 07/01 - 06/30
Renewal Due: 05/01 - 06/30

$1,000.00 HO
$200.00 each branch

Fees are nonrefundable.

Address Change No Fee
Name Change
 
$250.00
Change of Control/Ownership change (“COC”) $0.00
Officer Change $0.00
Duplicate License
 
No Fee
License Surrender
 
$0.00
Required Reports
Required Reports
DESCRIPTION   FORMS
Consumer Lender Standard Rate of Charge Report (A.R.S. §6-609)  
Consumer Lender Annual Report (A.R.S. §6-608)

 

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].

Consumer Lenders - NMLS

Note: Companies holding these license types are encouraged to submit a license transition request through NMLS by filing a Company Form (MU1) and an Individual Form (MU2) for each of their control persons.  Additionally, for each branch holding these license types, companies are encouraged to complete and submit a Branch Form (MU3). Click here for more information.

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.

Company Licenses Description Requirements Checklist

Consumer Lender License

See Arizona Revised Statutes Title 6, Chapter 5 –
Consumer Lender for more information about who is required to have this license. (More Details)

Branch Licenses Description Requirements Checklist

Consumer Lender Branch License

See Arizona Revised Statutes Title 6, Chapter 5 –
Consumer Lender for more information about who is required to have this license. (More Details)

ARS § 41-1030(G) requires most Arizona government agencies to prominently print the provisions of ARS § 41-1030(B), (D), (E) and (F) on all license applications.  The following is the language in ARS § 41-1030(B), (D), (E) and (F):

B. An agency shall not base a licensing decision in whole or in part on a licensing requirement or condition that is not specifically authorized by statute, rule or state tribal gaming compact. A general grant of authority in statute does not constitute a basis for imposing a licensing requirement or condition unless a rule is made pursuant to that general grant of authority that specifically authorizes the requirement or condition.

D. This section may be enforced in a private civil action and relief may be awarded against the state.  The court may award reasonable attorney fees, damages and all fees associated with the license application to a party that prevails in an action against the state for a violation of this section.

E. A state employee may not intentionally or knowingly violate this section.  A violation of this section is cause for disciplinary action or dismissal pursuant to the agency’s adopted personnel policy.

F. This section does not abrogate the immunity provided by section 12-820.01 or 12-820.02.

Consumer Lenders - DFI