Rascon v. Transamerica Financial Corp.

OPINION

JACOBSON, Presiding Judge.

This appeal and petition for special action involve similar issues relating to the legality of certain lending practices instituted in 1980 by various consumer lenders in response to changes in Arizona’s usury law. The sole issue we address is whether Consumer Loan Act licensees could make consumer loans, between July 1980 and July 1984, at rates permitted by the general usury statute. Because we hold that such loans were permissible, we affirm in CV 89-572 and accept jurisdiction and grant relief in SA 89-263.1

HISTORICAL PERSPECTIVE2

Statutes controlling the…