Both state and federal laws regulate the Auto Title Loan industry.
In Arizona, the Department of Financial Institutions is the state agency that licenses and regulates Auto Title Loan companies (known as a secondary motor finance company in state statute).
While not an exhaustive list of state statutes that an Auto Title Loan company follows, the following are the major state statutes that companies must abide by:
Arizona Revised Statutes (A.R.S.) Title 44, Chapter 2.1, Article 1.
A.R.S., Title 47, Chapter 9, Article 6. (Uniform Commercial Code)
While not an exhaustive list of the federal laws and regulations that an Auto Title Loan company follows, click here to see Regulation Z of the Truth in Lending Act, the main federal regulation that Auto Title Loan companies must also abide by.