Hutchinson Criticizes Beebe over Predatory Lending - KAIT Jonesboro, AR - Region 8 News, weather, sports

Little Rock, AR

Hutchinson Criticizes Beebe over Predatory Lending

SEPTEMBER 15, 2006 - Posted at 8:02 a.m. CDT

LITTLE ROCK (AP) - Republican gubernatorial nominee Asa

Hutchinson says Democratic rival Mike Beebe has been ineffective in

fighting predatory lenders. He also says Beebe has created a

conflict of interest by accepting contributions from payday lenders

while working as attorney general.

Beebe described the former congressman's criticism as ``one more

Washington-style attack.''

Hutchinson cited four (th) thousand dollars in contributions

Beebe has received from payday lenders, and he accused Beebe of

failing to take action against the (quote) ``unscrupulous

lenders.''

Hutchinson said he supports revoking the 1999 Check Cashers Act,

which allows payday lenders to charge fees and interest rates in

excess of the state's usury limit of 17 percent.

Beebe's campaign noted that in the Legislature, Beebe voted

against the Check Cashers Act in 1999 and voted for its repeal in

2001.

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