Ohio online payday loans

Editorial Roundup: current editorials in Arkansas papers

Editorial Roundup: current editorials in Arkansas papers

Listed below are excerpts from current editorials in Arkansas magazines:

Texarkana Gazette, Oct. 4, 2016

Old game, brand new twist

Back in 2008, then Arkansas Attorney General Dustin McDaniel established a campaign to rid the continuing state of payday loan providers.

The storefront financing operations advanced money on post-dated checks. The attention and charges charged on these money advances — payable every two months — usually added up to 400 % per year or even more, far more than the state’s constitutional limit on interest levels.

Critics stated lending that is payday trapped borrowers in a cycle they are able to never ever desire to escape, refinancing loans any a couple of weeks simply because they could perhaps not manage to spend the main. Sometime borrowers finished up spending a great deal more in interest and charges compared to the level of the loan. Читать далее