Nation's Largest Payday Lender Looks at Pulling Out of Arkansas

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00002933-nations-largest-payday-lender-looks-at-pu/

Advance America Cash Advance Center Inc., a payday lender with 30 stores in Arkansas, may leave the state, at least according to a note in the company’s quarterly filing with the Securities and Exchanges Commission last Thursday.

The bank that had formerly marketed Advance America Cash’s payday lending operations has ceased operations in Arkansas, forcing the company to consider other options.

Critics of payday loans see this as a hopeful exodus of businesses like Advance America Cash from Arkansas while proponents say there is a continuing need for low-cost and short-term credit options.

For this complete story, please visit Nation’s Largest Payday Lender Looks at Pulling Out of Arkansas.