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    • Attorney General Dustin McDaniel orders payday lenders to cease making loans and forgive existing loan debt

    March 18th, 2008
    Source: KARK Channel 4 News 

    Arkansas Attorney General Dustin McDaniel on March 18, 2008, held a news conference to announce that he was ordering payday lenders in Arkansas to cease making loans and to forgive existing loan debt. The announcement was a huge victory for Arkansas consumers, who pay on average 372 percent to 869 percent annual interest to take out these predatory, high-cost loans. Michael Rowett, Research and Communications Manager for Southern Good Faith Fund’s Public Policy program, serves as Chairman of Arkansans Against Abusive Payday Lending and was interviewed for this news story.

     Archive: March 2008 | Section: Video, Media, Southern Good Faith Fund