AZ HB2512

Adds Arizona Revised Statutes Chapter 18 to regulate consumer credit extended to active duty military members, reserve members, and veterans discharged within the prior 12 months, as well as their dependents.

Caps annual percentage rate (APR) on consumer credit to covered military members and dependents at 36 percent, including all fees, charges, and ancillary product costs.

Requires creditors to provide covered borrowers with written and verbal disclosures before credit issuance, including the APR, Truth in Lending Act disclosures, and clear payment obligations.

Prohibits creditors from rolling over loans, requiring waiver of legal recourse, imposing arbitration requirements, using bank accounts or vehicle titles as security, or charging prepayment penalties.

Establishes civil liability for violations including minimum $500 per violation, actual damages, punitive damages, attorney fees, and classifies knowing violations as class 1 misdemeanor; allows actions within 2 years of discovery or 5 years of violation.