Bloodsuckers bloodied | Arkansas Blog

Thursday, February 21, 2008

Bloodsuckers bloodied

Posted By on Thu, Feb 21, 2008 at 4:26 PM

The state Supreme Court dealt the payday lending industry another defeat today, though it's still on a narrow bonding issue. The mother of all slapdowns on this gang of usurers is still someday in the future.

Attorney General Dustin McDaniel, whose constitutional duty it is to defend the state board that oversees the laughably unconstitutional scheme a payday-lenders-oiled legislature approved, offers this comment on the decision today:

This case, and the McGhee case handed down on the 17th, potentially sound the death knell for this industry.  Jim DePriest and I met today and are considering our immediate options.  I told the D-G today that we see this as devastating to the licensed payday lenders.  We also think that bonding companies will flee the market.  The Board decided two years ago that the conduct of the defendants in these cases did not invoke the bond protections.  This office was required to represent the Board in the appeal, but essentially abdicated our time last Thursday to the bond company’s lawyer.  As the Board’s lawyers, we will always defend their actions.  As a consumer advocate, I see these decisions as giving us new wind in our sails. 

From the ArkTimes store


Comments (2)

Showing 1-2 of 2

Add a comment

Subscribe to this thread:
Showing 1-2 of 2

Add a comment

More by Max Brantley

Readers also liked…

Most Shared

Most Recent Comments

  • Re: The Truth is Out There Open Line

    • Here's how one person responded to the CDC 7 words-- "As a proud transgender American…

    • on December 17, 2017
  • Re: Campus carry rules approved

    • Pscyclepath, I read Kate's comment "has yet stopped" as meaning "has not prevented" a mass…

    • on December 16, 2017
  • Re: The Truth is Out There Open Line

    • Great cold open on SNL with Trump, Kelly Ann, Sarah Shuckabee Sanders, Ivanka, the Trump…

    • on December 16, 2017



© 2017 Arkansas Times | 201 East Markham, Suite 200, Little Rock, AR 72201
Powered by Foundation