Arkansas Judge Rules in Favor of Payday Lenders

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

Written by: Unknown Author –

http://www.insidearm.com/news/00003827-arkansas-judge-rules-in-favor-of-payday-l/

By Gwen Moritz, Arkansasbusiness.com

Plaintiffs hoping to force the state to stop licensing payday lenders suffered a setback Tuesday afternoon as Pulaski County Circuit Judge Barry Sims declared the Check Cashers Act of 1999 constitutional.

He also ruled that the State Board of Collection Agencies, which regulates check-cashers, does not use any tax funds ? only license fees paid by regulated businesses ? and cannot be subject to an illegal exaction claim.

For this complete story, please visit Arkansas Judge Rules in Favor of Payday Lenders.

Arkansas Judge Rules in Favor of Payday Lenders

Unknown Author

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