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Internet based payday loan company to lend legally as long as it is licensed in any US State?

Date: Tue, 06/29/2010 - 08:10

Submitted by David1277749905
on Tue, 06/29/2010 - 08:10

Posts: 13 Credits: [Donate]

Total Replies: 1


I am trying to fully understand the subject of payday lending, so I spent many hours studying every message on every sticky thread. There seems to be conflicting information.

goudah2424 stated on 06-16-2008, 07:38 PM (http://www.debtconsolidationcare.com/paydayloan/internet-lending-in-50states.html) that Arkansas, Rhode island, Tennessee, Wisconsin allow an internet based payday loan company to lend legally as long as it is licensed in any US State.

So I start to look more at Arkansas, and I find news articles (http://consumerist.com/2008/03/arkansas-attorney-general-to-payday-lenders-shut-down-or-ill-see-you-in-court.html) that say this is not true. And this article was 3 months earlier than the message in this forum.

I am trying to understand if there are some states that allow an Internet based payday loan company to lend legally as long as it is licensed in any US State?