Arkansas AG sues payday lending websites
(AP) LITTLE ROCK, Ark. — Arkansas Attorney General Dustin McDaniel has sued a Missouri man and two companies that control Internet payday loan websites which offer loans to consumers at interest rates exceeding 600 percent.
McDaniel said Monday Josh Mitchem and PDL Support and Platinum B Services of Kansas City, Mo., control the operations of Action Payday; Bottom Dollar Payday; Everest Cash Advance; Paradise Cash Advance; Red Leaf Lending and the VIP Loan Shop.
He says the loans violate Arkansas law.
The websites are purportedly based in Nevis, a Caribbean Island, but McDaniel says all lending operations were based in the Kansas City area.
McDaniel wants an injunction to bar Mitchem and the companies from offering or collecting upon the loan.
A telephone listing for Mitchem was disconnected, and a number for PDL Support rang unanswered.
Article source: http://www.cbsnews.com/8301-505245_162-57364207/arkansas-ag-sues-payday-lending-websites/
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