Arkansas payday lenders operated under a check cashing law since 1999. Last year, the Arkansas Supreme Court overturned it’s original ruling putting 275 lenders more of less out of business. A few are still around offering check cashing and phone cards.
In this AP article in Forbes, the last of the Arkansas lenders has closed.
Could the lenders have worked w/ the legislature? It’s all academic now.
If you’re curious about the last year in Arkansas, PDL Industry was following the store. Here is the archive.
