Companies reach pact with Ark.: No payday loans - KATV - Breaking News, Weather and Razorback Sports

Companies reach pact with Ark.: No payday loans

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LITTLE ROCK, Ark. (AP) - The attorney general's office says it has reached an agreement with an out-of-state lending company so that it won't offer payday loans in Arkansas.

Arkansas Attorney General Dustin McDaniel's office said Tuesday that Sure Advance LLC agreed not to provide loans to Arkansans beyond the state's law usury limits

The sides filed a consent judgment in Pulaski County Circuit Court.

The AG's office says the company will also cancel all outstanding loans made to Arkansas consumers.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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