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Monday, June 9, 2014

Attorney general sues payday lenders

Posted By on Mon, Jun 9, 2014 at 1:48 PM

Attorney General Dustin McDaniel keeps after the payday lenders. He announced today he had sued three online lenders for illegally making loans with interest rates as high as 782 percent in Arkansas. Defendants are two individuals and three companies, all from Kansas.

The outfits claim to be based in Nevis, but McDaniel said most of the companies' business is conducted by people in the Kansas City area.

Noted: David Sterling, a Republican candidate for attorney general in Tuesday's runoff, has received campaign money from a payday lender.

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