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illegal payday lenders in arkansas - Texarkana

Date: Mon, 10/05/2009 - 13:33

Submitted by anonymous
on Mon, 10/05/2009 - 13:33

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Total Replies: 5


I live in Arkansas Texarkana , where payday loan companies are illegal.Does that mean that online payday lenders are prohibited from doing business with people in arkansas?


Quote:

Originally Posted by Shazzers
What makes you think ALL payday loans are illegal in your state?


Here is part of the letter the Attorney General sent to payday loan companies:

"the Arkansas Supreme Court issued two opinions regarding payday lending, Arkansas Board of Collection Agencies and Old Republic Surety Company v. Mcghee, et al., No. 07-129 (AR S. Ct. Jan. 17, 2008), and Staton v Arkansas Board of Collection Agencies and American Manufactures Mutual Insurance Company, No. 07-53 (AR S. Ct. Feb. 21, 2008). In each case, the Court found that the practice of payday lending is unconscionable and deceptive, in addition to being prohibited by the Arkansas Constitution."

The whole letter can be found at http://ag.arkansas.gov/newsroom/index.php?do:newsDetail=1&news_id=156


lrhall41

Submitted by on Fri, 12/04/2009 - 23:18

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[QUOTE=;][/QUOTE]
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lrhall41

Submitted by on Wed, 07/21/2010 - 02:31

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