Public Policy

Report on payday lenders: 101 comply, 55 defy Attorney General’s order to stop making loans

July 16th, 2008
Source: KTHV Channel 11

Arkansans Against Abusive Payday Lending (AAAPL) held a news conference July 16, 2008, to release a report evaluating payday lenders’ compliance with Arkansas Attorney General Dustin McDaniel’s March 2008 order to stop making loans. The report found that 101 of 156 lenders have complied with McDaniel’s order and stopped making loans while the remaining 55 remain open in defiance of the order. AAAPL Chairman Michael Rowett, Research and Communications Manager for Southern Good Faith Fund’s Public Policy program, presented the report findings at the news conference, which was covered extensively by central Arkansas media.

New program matches funds for college

February 12th, 2008
By Jessica Bauer // Log Cabin Democrat

A press conference was held at Sallie Cone in front of a class of fourth-grade students to discuss the state’s Aspiring Scholars Matching Grant, a program that makes funds for higher education available to qualifying families who wish to invest in the Arkansas 529 gift plan.

FDIC wants millions more in ‘mainstream’

December 20th, 2007
Source: Arkansas State Bank Department

There are an estimated 28 million” unbanked” and 44.7 million “underbanked” people in the United States today, representing a potential market of 40 million households with little or no current relationship with a financial institution.

Study: One third of Ark. payday lenders not regulated

December 20th, 2007
By Andrew DeMillo // Associated Press

Sixty-six percent of the state’s 239 payday lenders are licensed and regulated by the Arkansas State Board of Collection Agencies and 34 percent are licensed and unregulated, the study said. The report noted that the state, which last year did not license 7 percent of payday lenders, has licensed them all.

NLR looks at a delay on cashers

August 28th, 2007
By Jake Sandlin // Arkansas Democrat Gazette

A move to add zoning restrictions on businesses that make “payday loans” has North Little Rock officials looking at a two-year, citywide moratorium on new check-cashing businesses.

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