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Companies reach pact with state: No payday loans

By The Associated Press

This article was published February 13, 2013 at 7:05 a.m.

— The attorney general’s office says it has reached an agreement with an out-of-state lending company so that it won’t offer payday loans in Arkansas.

Arkansas Attorney General Dustin McDaniel’s office said Tuesday that Sure Advance LLC agreed not to provide loans to Arkansans beyond the state’s law usury limits

The sides filed a consent judgment in Pulaski County Circuit Court.

McDaniel's office says the company will also cancel all outstanding loans made to Arkansas consumers.

Comments on: Companies reach pact with state: No payday loans

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RBBrittain says... February 13, 2013 at 9:41 a.m.

Headline is wrong as there's only ONE company. S/B "Company reaches pact..."

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RBBrittain says... February 13, 2013 at 9:46 a.m.

Actually, it's the article that's incorrect; the AG's press release mentions an out-of-court agreement with another payday lender besides this one.

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