A.G. McDaniel Tells Payday Lenders to Shutdown

LITTLE ROCK (AP) - Arkansas Attorney General Dustin McDaniel has a message for payday lenders throughout the state: shut down now, or face a lawsuit from the state.

McDaniel is sending letters to about 60 companies that run 156 payday lending firms in Arkansas. He expects written responses from the companies no later than April 4th.

McDaniel is telling the companies to stop lending and to stop collections on any current or past-due debt.

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