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08 April 2008
Most Arkansas Payday Loan Stores Set to Close - LITTLE ROCK - Arkansas Attorney General Dustin McDaniel's remarked Tuesday that most Payday Loan Lending Companies will close or stop issuing high interest loans. Of the 159 location targeted by McDaniel, 59 have responded. Seven are believed to have stopped issuing payday loans and 52 will comply with the 17% interest rate. Arkansas State Supreme Court rulings make it clear that these high interest rate loans violate the state's consitution.

Not all the companies targeted will shut down. One payday loan provider, Advance America has announced it will adjust interest rates to comply with the law. The company will not be offering any news loans until all options are reviewed. Advance America will temporarily offer current customers interest free loans.


08 April 2008
I'll pay you Tuesday for payday loan today - South Carolina lawmakers are considering legislation to cap the annual interest rate that can be charged on small consumer loans typically called payday loans. The proposed legislation will effectively end payday lending in the state and financially harm many South Carolinians by denying them access to credit. This nanny state legislation deprives all consumers the freedom to take out payday loans for the sake of protecting a few consumers who made irresponsible financial decisions.
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08 April 2008
Ontario gets payday loan example - The Ontario government is searching for an academic, a businessperson and a social advocate to form an independent advisory panel tasked with deciding how much it should cost to get so-called payday loans – short term, often used by people to make it to the next paycheque – in this province. Manitoba set its own maximum charges last Friday after public hearings that pitted consumer advocacy groups against industry representatives before that province's Public Utilities Board.
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07 April 2008
Both sides give views on payday loans - A vocal supporter and a vocal critic of payday lending faced off Sunday in a public forum at a Northwest Side church. Rudy Mares, the Southern Arizona coordinator of Arizonans for Financial Reform, and District 30 Rep. Marian McClure presented their sides of the payday-lending debate during an hour-long discussion at St. Mark's United Methodist Church, 1431 W. Magee Road.
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