Lincoln sides with credit card companies | Arkansas Blog

Friday, May 21, 2010

Lincoln sides with credit card companies

Posted By on Fri, May 21, 2010 at 11:18 AM

Bill Halter's campaign notes Blanche Lincoln's vote against legislation that would have let states impose lower limits on credit card interest. In Arkansas, this is a big dollar consumer issue.

Note that Lincoln has supported every effort by the business community to use the federal government to sidestep the state's constitutional usury provision and has won exceptions for most areas of lending. She's long been friendly, too, with the credit card industry, notably in 2005 bankruptcy legislation.


North Little Rock – On Wednesday, Sen. Blanche Lincoln voted to allow out-of-state credit card companies to keep charging sky-high interest rates to Arkansas consumers. The amendment to the financial reform bill would have allowed all 50 states to impose individual interest rate caps on out-of-state lenders. 
Arkansas capped the rate in-state credit card companies can charge families at 17%. But most credit card companies aren’t based here and out-of-state credit card companies can and do charge Arkansas families well above 17%.
Sen. Lincoln's vote means these big credit card companies – many of which are headquartered in Delaware - can keep charging Arkansans whatever they want. And it’s no wonder – Sen. Lincoln has taken a total of $49,475 from credit card companies.
"Arkansas consumers are paying outrageous credit card fees to out-of-state companies, and Sen. Lincoln voted to allow them to keep taking advantage of Arkansans," said Halter campaign manager Carol Butler. "She has once again shown she is on the side of big banks and special interests, not Arkansas working families."
Sen. Lincoln has a history of siding with big credit card companies over Arkansas consumers. In 2005, Lincoln voted against a proposal to place a 30 percent ceiling on credit card interest rates. She also voted for the 2005 bankruptcy bill that critics charged would line the pockets of the credit card industry at the expense of consumers.


Comments (9)

Showing 1-9 of 9

Add a comment

Subscribe to this thread:
Showing 1-9 of 9

Add a comment

More by Max Brantley

  • Ad man Heathcott sues CJRW for damages in ouster

    Gary Heathcott the long-time ad and PR man who now lives in San Antonio has sued CJRW, the major ad and PR firm, over its severing of a consulting deal with him last year and asks $1.3 million in actual damages plus unspecified punitive damages.
    • Dec 18, 2018
  • Court dismisses ethics complaints against Kavanaugh

    The 10th Circuit Court of Appeals has dismissed numerous judicial ethics complaints against Supreme Court Justice Brett Kavanaugh because the law exempts Supreme Court members, even for acts committed as a judge covered by the law. In short: Bart O'Kavanaugh is above the law.
    • Dec 18, 2018
  • In face of blowback, state will slow down assisted living cuts

    Brett Rains of 40/29 is tweeting from the Capitol that the Department of Human Services is slowing its push for cuts in reimbursements for home health aides that critics have said could force many people into more expensive nursing home and force companies that provide the services out of business.
    • Dec 18, 2018
  • More »

Readers also liked…

  • Presidential thriller, co-author Bill Clinton, coming to bookstores in 2018

    June 2018 is the expected publication date for a novel collaboration by former President Bill Clinton and crime writer James Patterson.
    • May 9, 2017
  • ADEQ denies C&H Hog Farm permit

    The Arkansas Department of Environmental Quality has denied a new permit for the C&H Hog Farms' concentrated animal feeding operation near Mount Judea (Newton County). This is a big and somewhat surprising victory for critics who have viewed C&H's large-scale pig farm and the pig waste it generates as an existential threat to the Buffalo National River.
    • Jan 10, 2018
  • Police identify two women found fatally shot on Chicot Road

    Little Rock police have identified two women found dead of gunshot wounds in an SUV parked next to a vacant trailer in a mobile home park at 11500 Chicot Road.
    • May 16, 2017


  • Arkansas vs Ole Miss at War Memorial stadium in Little Rock, Saturday, Oct. 13, 2018. After leading for much of the game, Arkansas lost 37-33 when Ole Miss scored the game winning Touchdown with less that 2 minutes left. 
  • Margaret Clark Adventure Park
    New sculptures, preschoolers play area dedicated in Riverfront Park in Little Rock.

Most Recent Comments


© 2018 Arkansas Times | 201 East Markham, Suite 200, Little Rock, AR 72201
Powered by Foundation